424B3: Prospectus filed pursuant to Rule 424(b)(3)
Published on March 18, 2010
Filed
pursuant to Rule 424(b)(3)
File
No. 333-161922
Prospectus
Supplement No. 2
(To
Prospectus dated February 12, 2010)
NOVELOS
THERAPEUTICS, INC.
19,000,000
shares of common stock
This
prospectus supplement supplements the Prospectus dated February 12, 2010,
relating to the resale of 19,000,000 shares of our common stock. This
prospectus supplement should be read in conjunction with the
Prospectus.
Announcement
of Discontinuation of Current Development Program for NOV-002 in
NSCLC
As
previously disclosed, on February 23, 2010, we received a report of the top-line
results of our pivotal Phase 3 clinical trial in advanced NSCLC studying our
lead product, NOV-002, in combination with first-line chemotherapy. Upon
initial evaluation and review of the data contained in the report, we determined
that the primary endpoint of improvement in overall survival was not met in the
trial. After further analysis of the data in the report, we
confirmed that the secondary endpoints also were not met in the pivotal Phase 3
trial, and that adding NOV-002 to paclitaxel and carboplatin chemotherapy was
not statistically or meaningfully different in terms of efficacy-related
endpoints or recovery from chemotherapy toxicity versus chemotherapy
alone. On the basis of these results, we have determined to
discontinue development of NOV-002 for NSCLC in combination with first-line
paclitaxel and carboplatin chemotherapy.
Investing
in our common stock involves a high degree of risk.
See
Risk Factors beginning on page 7 of the Prospectus.
Neither
the Securities and Exchange Commission nor any state securities commission has
approved or
disapproved
of these securities or passed on the adequacy or accuracy of this prospectus
supplement. Any
representation
to the contrary is a criminal offense.
The date
of this prospectus supplement is March 18, 2010