OncoMed misses endpoint on clinical trial; Bayer will not license two drugs

|About: Bayer A.G. ADR (BAYRY)|By:, SA News Editor

OncoMed Pharmaceuticals (NASDAQ:OMED) says the phase 2 demcizumab pancreatic cancer trial missed its primary endpoint; shares are halted.

In a partnership with Celgene (NASDAQ:CELG), demcizumab was being tested with two chemotherapy drugs in previously untreated metastatic pancreatic cancer, but OMED now says the trials will be discontinued.

Also, Bayer (OTCPK:BAYRY) says it will not use its option to license two other OMED cancer drugs, vantictumab and ipafricept, "for strategic reasons."

OMED says it will keep the global development and commercialization rights to both drugs starting in June.