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Article: ICAAC NABI STOCK DROPS 40% FOLLOWING STAPHVAX PHASE III TRIAL RESULTS.
- Article from:
- BIOWORLD Today
- Article date:
- September 20, 2000
- Author:
CopyrightCOPYRIGHT 2000 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)
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A double-whammy of bad news for Nabi - early data from a Phase III trial of its product against blood infections, which failed to meet the study's primary endpoint, and problems with a supplier, which are expected to put a dent of $4 million to $5 million in third-quarter earnings - sent the company's stock (NASDAQ:NABI) tumbling more than 40 percent, closing Tuesday at $5.56, down $3.81.
Preliminary data from the double-blinded, placebo-controlled Phase III trial of Nabi's Staphylococcus aureus conjugate vaccine, StaphVAX, in 1,804 end-stage renal disease patients on hemodialysis showed a 57 percent reduction of bloodstream infection for the first 10 months.
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