Takeda's Breakthrough Blood Cancer Drug Flunks In Phase 3 Study - Takeda Pharmaceutical (OTC:TKPHF), Takeda Pharmaceutical (NYSE:TAK)

Takeda Pharmaceutical Co Ltd TAK announced topline data from the Phase 3 PANTHER study evaluating pevonedistat in blood cancer indications.
The trial did not achieve the pre-defined statistical significance for the primary endpoint of event-free survival (EFS). Patients were given either a combination of pevonedistat and the chemotherapy azacitidine or azacitidine alone.
The group comprises patients with three different conditions: higher-risk myelodysplastic syndromes (HR-MDS), chronic myelomonocytic leukemia, and low-blast acute myeloid leukemia.
In July 2020, the FDA granted breakthrough therapy designation to pevonedistat for the HR-MDS indication.
Full trial data results will be submitted for presentation at an upcoming medical congress.
Takeda added that it would work with study investigators to “determine the most appropriate action for each patient enrolled in the study.”
Price Action: TAK stock is down 1.18% at $16.71 during the market session on the last check Thursday.