As per recent reports, it has been revealed that after Infinity Pharmaceuticals declared that it will no more continue its ongoing trials for drugs subjected to treat bone-marrow, shares of the company fell by a major margin of 21%, this Monday in premarket trading.

However, the decision taken by the drug-developer to halt the trial was due to unsatisfactory results exhibited by the drug during mid-stage of the trial. The Cambridge-based company affirmed Phase 2 trials of the drug saridegib have been ended, which was supposed to be a treatment for bone marrow and cartilage cancer.

Detailed reports suggest that the decision was taken up the company after a committee affirmed that the drug will show results not better than a placebo. Previous reports suggest that company had previously even in January, ended Phase 2 trials for saridegib drug, which was for treating pancreatic cancer.

As a consequence, the Infinity Pharmaceuticals had to face a down fall in its shares, which went down by 21%. Infinity said, “It does not plan to conduct any more trials on saridegib, and plans instead to focus on developing its drugs for non-small-cell lung cancer and advanced forms of blood cancers”.

Further, reports have unveiled that the trials for the drug were funded equally by UK-based Mundipharma International Corp Ltd.