Enzon stops study of colorectal cancer treatment

AP News
Posted: May 19, 2011 4:22 PM
Enzon stops study of colorectal cancer treatment

Enzon Pharmaceuticals Inc. will halt clinical work on a potential metastatic colorectal cancer treatment, the company said Thursday, to focus on treatments with "nearer-term commercial potential."

The drugmaker said it will continue studying the compound, labeled PEG-SN38, in other programs, including a mid-stage trial in metastatic breast cancer and an early-phase pediatric cancer study.

"While we may evaluate PEG-SN38 in earlier lines of colorectal cancer treatment in future clinical trials, at this time, resources associated with such trials are better directed toward areas of study with nearer-term commercial potential," company vice chairman Richard Mulligan said in a statement.

Shares of Enzon Pharmaceuticals fell 40 cents Thursday to close at $10.60.