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Novartis AG said it is discontinuing late stage clinical trials for a drug candidate to treat lung cancer because the trial was unlikely to meet its endpoint.

Trials on the investigational cancer drug, called ASA404, will be terminated, resulting in a $120 million charge to the company, according to a Novartis press release. Switzerland-based Novartis, which houses its Institutes for Biomedical Research headquarters in Cambridge, said it would shift its focus to its other potential cancer treatments.

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