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OncoGenex Pharmaceuticals Inc. (OGXI) Is Sinking After Phase 3 Study Fails

OncoGenex Pharmaceuticals Inc. (OGXI) and Teva Pharmaceutical (TEVA) announced Monday morning that the Phase III SYNERGY trial comparing the combination of custirsen and standard first-line docetaxel/prednisone therapy to docetaxel/prednisone alone in men with metastatic castrate-resistant prostate cancer did not meet the primary endpoint.

OncoGenex Pharmaceuticals gapped open dramatically lower Monday and is now down 5.20 at $4.50 on strong volume. The stock has plummeted to a new low for the year.

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