AbbVie has officially waved the white flag on the cancer drug that triggered its $5.8 billion buyout of Stemcentrx a few years ago.

North Chicago, IL-based AbbVie (NYSE: ABBV) said that rovalpituzumab tesirine, or Rova-T, failed another clinical trial—this time a Phase 3 study, MERU, testing the drug as a maintenance therapy in patients with newly diagnosed small cell lung cancer (SCLC). At an interim look at the data, the drug didn’t help patients live longer than a placebo.

AbbVie will close the MERU study and shelve Rova-T, “prioritizing other development programs within its oncology pipeline,” the company said in… Read more »