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4:59 am XOMA halts gevokizumab related development; prelim

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Green Money 00   Thursday, 03/10/16 08:27:14 AM
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4:59 am XOMA halts gevokizumab related development; prelim data did not show intended results; initiates asset sales process (XOMA) :

Co provided an update for its Gevokizumab

Given XOMA's focus on endocrinology, the Company has decided to stop all gevokizumab related development activities and is initiating a formal sales process for the asset. As a result, the Company is closing the Phase 3 program in patients suffering from pyoderma gangrenosum.
A preliminary review of the data from the ~25 patients enrolled in the trial to date did not show a clear signal of activity in this indication.
XOMA has been approached by several companies interested in gevokizumab and data from all gevokizumab studies will be available to potential buyers.

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