Incara Pharmaceuticals is pulling the plug on a drug it had under development for the treatment of ulcerative colitis.

In a statement issued this morning, Incara said the use of deligoparin during a clinical trial “did not meet the primary or secondary endpoints” of that study. Some 138 patients had been involved.

Incara licensed the drug from an Italian firm in 1998.

“Although the drug appeared to be safe, the results of the trial do not justify further development,” said Clayton Duncan, Incara’s president and chief executive officer, in the statement. He added that Incara would now focus on liver cell therapy for treatment of liver failure and antioxidants for treatment of damage suffered during cancer radiation therapy and stroke as well as protection of cells in transplantation.

Incara (Nasdaq: INCR) stock was up 1 cent, to 15 cents, in midday trading.

Incara: www.incara.com