Britain-based AstraZeneca's experimental drug selumetinib failed to show positive results in a late-stage clinical trial for lung cancer, according to Reuters.
When combined with a chemotherapy treatment, the drug failed to slow lung cancer progression or significantly impact survival time.
The drug was previously shown promise to do so in a Phase II trial for non-small cell lung cancer, said Sean Bohen, AstraZeneca's head of medicines development.
This is not the first time selumetinib has disappointed. In July, the drug failed to treat a rare eye cancer. Researchers believe the drug may still play a role in treating one type of thyroid cancer and cancers growing on nerve tissue.
On Friday, New York City-based Bristol-Myers Squibb's cancer drug Opdivo also failed in a study to treat lung cancer patients.
More articles on the drug market:
Valeant enters licensing agreement with Norgine
Merck's blockbuster drug Keytruda approved to treat head and neck cancer
AbbVie sues Amgen for patent infringement on Humira: 5 things to know