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GTx, Inc. (GTXI) Plummets to a New Low After Drug Fails Late-Stage Trials  
8/19/2013 7:47:14 AM

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GTx Inc's experimental drug to treat muscle wasting in cancer patients became its second successive lead drug to fail late-stage trials, wiping out nearly two-thirds of the market value of the once-promising cancer-focused pharmaceutical company.

GTx said on Monday that the drug, enobosarm, failed to meet the twin goals of improving body mass and physical function in cancer patients — the latter measured by improvement in their ability to climb stairs.

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