Xenoport, the Santa Clara biopharmaceutical, reported positive preliminary results today from a Phase 2 clinical trial of its treatment for patients with spasticity related to spinal cord injury. Patients given twice-daily doses showed “statistically significant improvement” compared to those receiving a placebo.
The company also said the drug candidate, arbaclofen placarbil, was Read the rest of this entry »
Shares of Palo Alto’s Jazz Pharmaceuticals rose by more than a third in after hours trading Wednesday after the company reported positive results from the second of its Phase III clinical trials of sodium oxybate, a treatment for the chronic illness known as fibromyalgia known for the widespread pain and chronic fatigue it induces. The drug is being developed jointly with Read the rest of this entry »
Shares of Xenoport hit a 52-week low Monday, diving $2.62, or 15 percent, to close at $14.76 after the Santa Clara drug maker and its partner, GlaxoSmithKline, reported that a clinical trial of its treatment for neuropathic pain associated with diabetic peripheral neuropathy in adults “did not demonstrate a statistically significant improvement” when compared to a placebo.
In November, Xenoport’s shares got similarly slammed when Read the rest of this entry »
CV Therapeutics, the Palo Alto biopharmaceutical company fending off unsolicited overtures from Japan’s second largest drug company, reported today that its new oral compound CVT-3619, designed to treat cardiometabolic diseases, was “well tolerated “with no serious adverse events and was associated with a reduction of free fatty acids.”
The Phase 1, single-blind, placebo-controlled, single-ascending-dose study involved 55 healthy and 23 obese volunteers. “No clinically meaningful changes in Read the rest of this entry »
Map Pharmaceuticals, the Mountain View development stage pharmaceutical company, said today that the initial Phase 3 clinical trial for budesonide for the potential treatment of children with asthma did not meet expectations in either of the doses evaluated when compared with a placebo.
The study included Read the rest of this entry »
Have good news, will sell stock. That might be the logic behind a secondary offering of new shares by InterMune, the Brisbane biotechnology company whose stock price soared 28 percent to earlier this month after it said it would apply for approval in the Read the rest of this entry »
Alexza Pharmaceuticals announced the elimination fo 52 employees, or a third of its staff, last week the same day it reported the cancellation with Endo Pharmaceticals of a joint development agreement for Alexza’s AZ-300 drug candidate designed to treat abnormal flare-ups of pain in addition to the chronic pain suffered by cancer patients and others.
Endo originally paid Alexza a $10 million Read the rest of this entry »
Affymax, the Palo Alto biopharmaceutical whose shares lost more than half their value in 2008, disclosed bonuses its board approved for its top officers last week, along with raises in their salary and new options grants.
Chief Executive Arlene Morris was awarded a cash bonus of $281,170 for the year, which represented 55 percent of her salary last year, along with an option to buy 80,000 shares with an exercise price of $10.99, the closing price on Jan. 15 when they were granted. She was also given a 3 percent raise in her annual salary, which now stands at $526,555.
The biggest raise on a percentage basis was given to the company’s chief medical officer, Anne-Marie Duliege, whose pay was raised 5 percent to $363,300. She was also given a bonus of $136,238, which represented 39 percent of her salary.
However, Duliege, along with Robert Venteicher, the company’s senior vice president of technical operations, were awarded a one-time bonus back in May equal to a third of their respective salaries at the time, payable upon the acceptance of the filing of the company’s new drug application with the Food and Drug Administration for its treatment for anemia associated with chronic renal failure.
Affymax, which became a public company in 2006, has wracked up $272.5 million in accumulated loss during its time, burning through nearly $49 million in its 2008 third quarter alone.
It still had $110.7 million in cash and short-term investments as of Sept. 30, down 34 percent from the same time the year before.
Alexza Pharmaceuticals announced positive results from its second Phase 3 clinical trial of its inhalation drug candidate, AZ-004, otherwise known as Staccato loxapine, being developed to treat acute agitation in patients with schizophrenia or bipolar disorder. The drug’s development is part of a partnership between Mountain View-based Alexza and Symphony Capital, a biotech-focused private equity firm.
Alexza reported that the trials showed that both the 5 mg and 10 mg doses showed Read the rest of this entry »
XenoPort of Santa Clara and its partner said Monday they withdrew their new drug application for Solzira, its time-released treatment of moderate-to-severe restless drug syndrome after the Food and Drub Administration asked for modifications to a study.
The news sent shares of XenoPort down Read the rest of this entry »
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