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 »