I recall it being posted before, but I can't recall by whom....or even if my memory is 100%.  But I seem to recall someone (or someones) posting that halts due to futility in phase III are very rare.

The reason I am asking is because I don't have near the experience that some here have with biotech....some, but not much. I did take a position in Peregrine Pharma a while back, it popped onto my radar because Eastern aka KD were also involved as with Resverlogix.  

Back in Feb of 2016 Peregrine (PPHM) had a PH III trial halted due to futility:  

http://www.onclive.com/web-exclusives/peregrine-stops-phase-iii-trial-of-bavituximab-in-nsclc

I'm reading a bit on it, and it seems that the futility failure rate is pretty high when it comes to cancer drugs...which is the case with Peregrine.  Does anyone have any imperical data to share?