SiliconBeat

Santa Clara drug maker Xenoport said in a filing today it plans to sell 2.5 million more shares at $19 each in a secondary stock offering co-managed by top-shelf underwriters Morgan Stanley and Goldman Sachs.

The sale price was 11.6 percent lower than where Xenoport shares closed the day before the stock offering was announced. The company will sell the shares to the underwriters for  $17.91.

Xenoport appears to be taking advantage of good news it released last week when it reported Read the rest of this entry »

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 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 »

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 »

XenoPort, the biopharma that develops technology designed to increase the benefits of existing drugs, will soon be living larger as it signed a lease for about 50 percent more space on Central Expressway in Santa Clara, according to a filing Wednesday. Best of all, it’s getting the space at about half the price.

The company signed a five-year lease with the Sobrato family for 59,000 square feet at 3400 Central Expressway next door to its current headquarters. It is set to take occupancy no later than December. At the same time XenoPort decided to extend its lease on its headquarter space, which has nearly 103,000 square feet, for about two more years so that both leases will expire at the same time.

Over its life, the lease at 3400 Central Expressway will cost $6.14 million, or about $1.73 per square foot per month. Compare that with the rent XenoPort agreed to pay for its headquarters at 3410 Central Expressway when it signed the lease three days after the 9/11 terrorist attacks in New York and Washington. The monthly rent then started at $2.40 per square foot per month, increasing in steps to the $3.45 it will pay in 2010, according to the rental agreement included with the company’s registration filing for its 2005 initial public offering.

On Wednesday, XenoPort, the Santa Clara biopharmaceutical company working with the British drug maker GlaxoSmithKline on an experimental drug to treat restless leg syndrome, corrected its SEC filing of the day before to nearly double the percentage of patients in a clinical trial of the drug who withdrew from it because of “adverse events.”

Oops.

On Tuesday, the companies said that 7 percent of the 327 patients in the single-blind phase of the trial for the drug candidate called XP13512 withdrew from the study complaining of things such as sleepiness and dizziness. In fact, the correct number was 13 percent.

The company also had to raise the percentage of people in the same trial phase who withdrew from the study citing no effect from 2 percent to 4 percent.

Nevertheless, the “top-line” results of the trial remained unchanged, showing that the drug was “generally well-tolerated” and displayed “a statistically significant difference
between the percentage of patients treated with” it and a placebo.