(Reuters) - Amgen's Kyprolis drug failed to show it could extend survival compared to standard care for patients with advanced multiple myeloma, a type of blood cancer that develops in the bone marrow.
On the news, shares of Amgen stock were down 2.1 percent at $124.66 in after-hours trading on Wednesday.
Amgen said the 315-patient, phase III trial also showed an increase in kidney events for patients given Kyprolis when compared to the control group and to the risks described on the drug's current label.
RBC Capital Markets analyst Michael Yee said failure of the trial "was widely expected," given that patients in the control group could eventually be treated with Kyprolis if their disease got worse.
He also said the incidence of kidney-related side effects is "not a big concern" since the trial enrolled only very sick patients.
Kyprolis, acquired by Amgen in its $10 billion takeover of Onyx Pharmaceuticals, was approved in the United States for treating advanced multiple myeloma based on data showing patients responded to the drug.
This latest trial, known as FOCUS, was intended to show that the drug helped patients live longer, something that European regulators generally require before approving a drug.
Amgen said in a statement that it believes positive results announced earlier this month from a separate study of Kyprolis in patients with earlier-stage disease "will be sufficient to support regulatory submissions around the world."
(Reporting by Deena Beasley; Editing by Paul Simao, Bernard Orr)
