Negative FDA review if drug stalls Cell Pathways growth
Article Abstract:
Cell Pathways Inc., the Horsham biotechnology firm, announced that its Phase 3 test result for its compound, Prevatac, showed that it worked no better than a placebo in preventing precancerous polyps in the colon. Cell Pathways planned to use the test results to file for market approval from the FDA. The day after the announcement, Cell Pathways stock dropped 67%, from $27.25 to $9.00. The stock continued to throughout the week in heavy trading on the Nasdaq exchange. The company plans to continue Phase 2 testing, using the drug as a way to prevent prostate and breast cancer.
Comment:
Cell Pathways Inc., the Horsham biotechnology firm, announced that its Phase 3 test result for its compound, Prevatac, showed that it worked no better than a placebo in preventing precancerous polyps in the colon.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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Glaxo's executives tout R&D pipeline
Article Abstract:
GlaxoSmithKline P.L.C. announced a research-and-development pipeline on December 3, 2003, which is expected to make it the fastest-growing drug company in five years, in an attempt to reassure investors about prospects for drug sales. The company is planning to file a record number of applications for new drugs and vaccines and for new uses of existing drugs in the next five years.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2003
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Bristol-Myers shareholders would receive $300 million
Article Abstract:
Bristol-Myers Squibb Co. agreed to pay $300 million to settle a shareholder class-action lawsuit alleging that the company inflated sales by $2billion and misled investors about development of the cancer drug Erbitux. The settlement would be the largest by a drug company in a securities-fraud case in the U.S. history if approved by a federal judge.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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