Article: Wyeth Stops Heart Attack Study; Neose Loses Manufacturing Deal.

West Coast Editor

Less than five months after Neose Technologies Inc. signed a deal with Wyeth to provide Phase III quantities of Wyeth's drug for myocardial infarction, P-selectin glycoprotein ligand (rPSGL-Ig), Wyeth is stopping development of the compound because of disappointing Phase II data.

The decision represented no failure of Horsham, Pa.-based Neose's technology, but investors severely penalized the company anyway. Neose's stock (NASDAQ:NTEC) closed Friday at $11.56, down $9.26, or 44.5 percent.

"These things happen," said Matt Kremer, senior director of corporate communications for Neose. "They are in Phase II clinical trials, and ...

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