Global News

Cardium’s Heart Drug Shows Mixed Results

Monday, September 3, 2007

Cardium reported mixed results from two phase IIb/III trials of Generx (alferminogene tadenovec, Ad5FGF-4) for the treatment of chronic angina. These randomized, double-blind, placebo-controlled trials were dubbed AGENT (Angiogenic GENe Therapy -3 and -4 and enrolled a total of 532 subjects in the US and Europe.  Subjects received a low dose or high dose of Generx, administered via intracoronary infusion or placebo for 12 weeks. The primary endpoint was the change from baseline in exercise treadmill time (ETT) at 12 weeks and at secondary time points of 4 weeks and 6 months. Secondary endpoints included time to 1 mm ST-segment depression, time to onset of angina and change in Canadian Cardiovascular Society (CCS) class. Pooled data showed no significant difference in the active groups versus placebo in the primary endpoint.

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Cymbalta Reduces Pain in Fibromyalgia Trial

Tuesday, August 28, 2007

Eli Lilly reported positive results from a phase III trial of Cymbalta (duloxetine) for the treatment of fibromyalgia. Cymbalta is Lilly’s serotonin and norepinephrine reuptake inhibitor (SSNRI), approved in the U.S. for major depression and diabetic (peripheral neuropathic) pain. Merrill Lynch has forecasted the product could reach worldwide sales of $2.2 billion in 2008.

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Averion Reports Second Quarter Loss

Monday, August 27, 2007

The Boston-based contract research organization (CRO) Averion International reported a net operating loss of $577,253 for the second quarter of 2007 on total revenues of $9.81 million. That compared to a loss of $912,140 during the same period last year from just $4.92 million in revenue. For the first half of the year – ending June 30th of 2007 – Averion reported $19.1 million in revenue and a net loss of $2.47 million compared with $9.88 million in revenue and a net loss of $1.94 million during the same period in 2006.

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Lupus Drug Shows Promise in Phase I/II Trial

Wednesday, August 22, 2007

UCB and Immunomedics reported positive results from a follow-up phase I/II trial of epratuzumab for the treatment of systemic lupus erythematosus (SLE). Phase I of the trial enrolled 12 subjects with SLE and analyzed the effect of epratuzumab on circulatory B-cell subsets. Results showed that epratuzumab preferentially targets naive and transitional B-cells.

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Datatrak Revenue Down 37% in Q2

Tuesday, August 21, 2007

Datatrak, an electronic data capture company, reported its second quarter revenue slumped 37% to $3.07 million and a net loss of $2.97 million or $0.22 per share on a basic and diluted basis. These results compared with revenue of $4.83 million and a net loss of $702,000, or $0.06 per share basic and diluted basis, in the second quarter of 2006. Datatrak laid off 17 employees in the second quarter, recording severance charges totaling $337,000.

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