April 6, 2005 -- The shares of CancerVax were cut almost in half today, following news that the Swiss biotech firm Serano halted a Phase III trial of Canvaxin, a cancer vaccine being co-developed by the two firms. The independent Data Safety Montoring Board advised that there was no chance the drug would show any survival benefit. Canvaxin was being tested against Stage IV melanoma. In an investor conference call, CEO David Hale gave reasons why Canvaxin may work against other forms of the disease. More details...
