Targeted failure of the week. Post No 95. Allovectin.

Vical Inc. (NASDAQ:VICL) fell $2.05 (58%) to $1.53 on Monday after discontinuing development of Allovectin velimogene aliplasmid, which was in Phase III testing for metastatic melanoma and was the company's most advanced unpartnered program. The discontinuation came after top-line data from the Phase III AIMM trial showed intralesional Allovectin missed the primary endpoint of improving objective response rate (ORR) at 24 weeks or more and missed the secondary endpoint of improving overall survival (OS) vs. standard chemotherapy consisting of either dacarbazine or temozolomide in chemotherapy-naïve patients with recurrent stage III or IV metatstatic melanoma. Allovectin is a DNA plasmid encoding major histocompatibility complex (MHC) class I B7 (HLA-B7) complexed with lipid.

And what is Allovectin?  It is a plasmid/lipid complex containing the DNA sequences encoding HLA-B7 and ß2 microglobulin - two components of major histocompatibility complex (MHC, class I). It sounds so sexy! I do not understand that this magic drug just failed:)