Biotechnology company Antigenics Inc. said Friday it will not seek approval for a potential kidney cancer treatment after a European advisory committee recommended against approving the drug candidate.
The Committee for Medicinal Products for Human Use of The European Medicines Agency gave a negative opinion on the kidney cancer treatment Oncophage. That opinion would have been taken into account when the European Commission reviewed the marketing application for the drug.
The company said it will consider options, including refiling the drug application at a later date in Europe. Meanwhile, the Food and Drug Administration has already given the drug candidate special status allowing for a faster review process.
Shares of Antigenics fell 4 cents, or 4.1 percent, to 92 cents in morning trading. The stock has traded between 19 cents and $3.34 over the last 52 weeks.