|
|
Article: Alteon's Alagebrium Faltering In Blood Pressure, ED Studies.
- 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
The troubled development path of Alteon Inc.'s lead candidate alagebrium came to a temporary stop in two indications, after an interim look at Phase IIb data showed the drug failed to work against systolic hypertension, and the FDA put on clinical hold a Phase IIa trial with the same compound as a therapy for erectile dysfunction in diabetics.
A disheartened Wall Street sheared off more than half the company's stock value, causing Parsippany, N.J.-based Alteon's shares (AMEX:ALT) to close Friday at 31 cents, down 36 cents, or 53.7 percent.
Kenneth Moch, president and CEO of Alteon, said during a conference call that he would ...