Tra­con shares slammed by PhII bust in brain can­cer study; Vis­ter­ra yanks its IPO in back-to-back duds

• Shares of San Diego-based Tra­con $TCON got slammed this morn­ing af­ter in­ves­ti­ga­tors said that the Phase II NCI study of TRC105 in re­cur­rent glioblas­toma failed. The study was de­signed to de­tect if a com­bi­na­tion of TRC105 and Avastin could sub­stan­tial­ly im­prove the pro­gres­sion-free sur­vival rate of pa­tients over what would be ex­pect­ed for Avastin alone. That didn’t work. The stock was down 21% in ear­ly trad­ing Fri­day.

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