Antisoma (ASM), the biotechnology company, saw its shares fall 17% on Wednesday after the company said the launch of its first products could be delayed by two years. The company said that US regulators had set more stringent targets for clinical trials of its ovarian cancer treatment pentumomab, and it would need to treat more patients to prove that pentumomab worked
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Shares of Antisoma , the British biopharmaceutical company focusing on cancer therapies, tumbled 15.1 percent to 160 pence on Wednesday after it said filing for approval for its ovarian cancer treatment pemtumomab would be delayed until 200.
Antisoma (LSE: ASM.L - news) said that following a meeting with the U.S. Food and Drug Administration on Tuesday, the regulator advised that the data from the Phase III study the treatment is currently undergoing should show stronger statistical evidence showing the drug's survival benefit over standard car.
As a result, Antisoma is increasing the number of patients recruited for the Phase III study to extend its research, leading to the delay in filing for any marketing approval.
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