Houston biotech Aravive reports PhIII ovarian cancer fail, shares nosedive

A small Hous­ton start­up re­port­ed a Phase III fail for an ovar­i­an can­cer drug Wednes­day af­ter­noon, send­ing its share price plum­met­ing.

Ar­a­vive said Wednes­day that its piv­otal study, test­ing the pro­gram bati­rax­cept in plat­inum-re­sis­tant ovar­i­an can­cer, failed to meet the pri­ma­ry end­point of pro­gres­sion-free sur­vival. The com­pa­ny is still eval­u­at­ing next steps for the drug as it com­pletes ad­di­tion­al da­ta analy­ses, ac­cord­ing to a press re­lease.

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