Mateon Halts Lead Candidate Development, Axes 60% of Workforce

Mateon Therapeutics said it will eliminate 60% of its workforce and end the development of its cancer-fighting lead candidate CA4P (combretastatin A4-phosphate, or fosbretabulin) following its failure in a Phase II/III trial.Mateon has terminated the Phase II/III FOCUS study, which assessed CA4P in combination with Roche-owned Genentech’s Avastin ® (bevacizumab) and physician’s choice chemotherapy in patients with platinum-resistant ovarian cancer.The company acknowledged that CA