|
|
Article: Dyax Plunges On Warning Of More Work With DX-88.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
West Coast Editor
Company phraseology such as "update on regulatory pathway" for a drug candidate seldom means good news, and Dyax Corp. proved the point, telling Wall Street that the FDA likely wants more clinical data on DX-88, the kallikrein inhibitor for hereditary angioedema (HAE).
Dyax's stock (NASDAQ:DYAX) toppled 16.4 percent to end trading at $2.90, down 57 cents, well under the 52-week low of $3.51.
Katherine Xu, analyst at Pacific Growth Equities in San Francisco, was surprised by the news, and called the lowered Dyax stock "a steal" for longer-term investors.
"The value is still there," she said, after talking with ...