On Tuesday Pfizer Inc. said that it halted a clinical trial which was at a late stage of an experimental lung cancer treatment. The reason cited for the discontinuation was the drug being ineffective.

The New York company for treatment of non-adenocarcinoma, non-small cell lung cancer, was testing a drug candidate called figitumumab. Pfizer said according to an independent data monitoring committee it was found that patients treated with a drug regimen, including figitumumab, were not living longer than patients given only standard treatment.

The analysis by independent safety monitors found that compared to paclitaxel plus carboplatin alone, adding figitumumab to two older therapies, paclitaxel and carboplatin, would be unlikely to meet the aim.

Mace Rothenberg, senior vice president of clinical development and medical affairs for Pfizer's oncology business unit, said, "While these findings are disappointing, Pfizer is committed to using information gained from this study to refine the design of future trials of figitumumab in non-small cell lung cancer.”

Pfizer shares fell by 4 cents to $18.52 in aftermarket trading.