Genaera drops cystic fibrosis and prostate cancer trials

The company said that the decision to end the Lomucin trial was made when it determined that there would be no additional benefit to further enrollment. Genaera plans to evaluate the impact of the drug, which it was developing with Cystic Fibrosis Foundation Therapeutics (CFFT), then move forward to focus on its core programs for asthma and obesity.

As a result of the joint decision to terminate the Lomucin study, the CFFT has agreed to final financial details of the award agreement to support the evaluation of Lomucin in subjects with CF, Genara said. The company will receive a final milestone payment in the amount of $100,000 and will not be required to refund any portion of the award previously received from the CFFT. As a result of termination, the Company will recognize revenue of $2.1 million of which $2 million was previously recorded as a long-term liability.

The phase II study of squalamine in prostate cancer, another of Genaera’s non-core assets, was also discontinued. There had been no recent enrollment in this trial, and delays in restarting the study at a new investigative site made the decision to end the study appropriate, the company said.