(AP) -- Swiss drug maker Novartis AG said Thursday it won't ask regulators for permission to market a new ovarian cancer drug after a late-stage trial proved disappointing.
The drug, patupilone, failed to show improvements over existing drugs in 829 patients with advanced ovarian cancer.
"Novartis does not plan to proceed with regulatory filings based on these data," the Basel-based company said.
Patupilone also is being tested for treatment of certain types of colorectal, lung and prostate cancer.
Shares in Novartis closed 1.6 percent higher at 51.85 Swiss francs ($45.01) in line with a general lift on the Zurich exchange.