Gale­na im­plodes as tri­al mon­i­tors call a halt to a failed PhI­II can­cer study

Shares of Gale­na ($GALE) were evis­cer­at­ed this morn­ing, drop­ping 78% af­ter the biotech an­nounced that it had stopped a Phase III study of its lead can­cer vac­cine Neu­Vax af­ter the mon­i­tor­ing com­mit­tee flagged it for fail­ing to help breast can­cer vic­tims.

Prov­ing yet again that an en­tire wave of can­cer vac­cines has been a dis­ap­point­ing flop, the San Ra­mon, CA-based biotech says it will now as­sess the pro­gram — but it doesn’t look good.

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