Argos Therapeutics Inc said on Wednesday that an independent data monitoring committee concluded that the company's experimental treatment for metastatic renal cell carcinoma would likely fail.
The company's share plunged about 72 percent in premarket trading.
Argos said the committee had recommended discontinuing the late-stage study, saying that a planned interim data analysis showed the combination treatment was unlikely to demonstrate a statistically significant improvement in patients' overall survival.
The company said it is analyzing the trial data and plans to discuss it with the U.S. Food and Drug Administration and would then decide the next steps for the clinical program.
(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Savio D'Souza)