GTx muscle drug fails late-stage trials, shares plunge

By Pallavi Ail (Reuters) – GTx Inc’s experimental drug to treat muscle wasting in cancer patients became its second successive lead drug to fail late-stage trials, wiping out nearly two-thirds of the market value of the once-promising cancer-focused pharmaceutical company. GTx said on Monday that the drug, enobosarm, failed to meet the twin goals of improving body mass and physical function in cancer patients — the latter measured by improvement in their ability to climb stairs. …