Posted On: 10/02/2015 1:50:13 PM
Post# of 72447
Investigational psoriasis drug abandoned by XenoPort.
"XenoPort ($XNPT) has changed its tune on an investigational psoriasis therapy, no longer insisting that the drug's middling efficacy and alarming safety profile merit late-stage development. Instead, the biotech is dumping the drug, cutting payroll and waving away its co-founder and CEO.
The move follows September's release of mixed Phase II results for the company's top clinical asset, an oral psoriasis drug called XP23829, that sent XenoPort's share price sharply downward. Reversing its earlier plans of moving into Phase III next year, the company is now discontinuing all development of XP23829, hoping to put the drug's future in the hands of a partner. XenoPort has the same ambition for the rest of its pipeline, too, the company said, looking to hand off in-development treatments for Parkinson's disease and addiction."
Link doesn't work, got this in an email from FierceBiotech
"XenoPort ($XNPT) has changed its tune on an investigational psoriasis therapy, no longer insisting that the drug's middling efficacy and alarming safety profile merit late-stage development. Instead, the biotech is dumping the drug, cutting payroll and waving away its co-founder and CEO.
The move follows September's release of mixed Phase II results for the company's top clinical asset, an oral psoriasis drug called XP23829, that sent XenoPort's share price sharply downward. Reversing its earlier plans of moving into Phase III next year, the company is now discontinuing all development of XP23829, hoping to put the drug's future in the hands of a partner. XenoPort has the same ambition for the rest of its pipeline, too, the company said, looking to hand off in-development treatments for Parkinson's disease and addiction."
Link doesn't work, got this in an email from FierceBiotech
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