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If Janssen does not exercise the option and Tracon wants to continue the development of TRC 694, the company will be forced to pay Janssen up to $60 million and a low single digit iPhone Cases royalty fee.GBM setbackOn February 9th Tracon announced top line results from a randomized Phase 2 trial of + Avastin in recurrent glioblastoma (GBM) funded and conducted by the National Cancer Institute (NCI):"[.] combined with Avastin (bevacizumab) was compared to single agent Avastin in a total of 101 patients with recurrent GBM following chemo radiation. The trial was designed to detect a three month improvement in progression free survival (NYSE:PFS), the primary endpoint, from the expected value of 3.45 months with single agent Avastin. Top line data indicate that the combination of and Avastin did not improve median PFS versus single agent Avastin in recurrent GBM patients, although the combination was associated with a non significant increase in overall survival."Despite the clearly disappointing results, it is important to understand that GBM is a hard to treat indication.
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