Tuesday, May 06, 2008

NicOx - clinical trials, ain't they a bitch

Pfizer has decided not to take NicOx's experimental glaucoma drug PF-03187207 into final Phase III tests after a mid-stage study failed to met its primary endpoint, sending NicOx shares tumbling.

The news is a major blow for NicOx, which has been working on developing eye treatments with Pfizer for four years, and shares in the French biotechnology company dived 30 percent to 10.10 euros by 3:20 a.m. EDT (0720 GMT) on Tuesday.

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