Biotech Values

[DewDiligence]

Pradefovir: Yet another HBV candidate strikes out.
From the MBRX 1Q07 press release yesterday:

http://biz.yahoo.com/bw/070503/20070503006204.html?.v=1

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In the first quarter, Schering-Plough was granted exclusive worldwide development and commercial rights to pradefovir. We were recently informed that 24-month oral carcinogenicity studies in mice and rats were completed. The preliminary data from these studies showed that the incidence of rats or mice with tumors was increased in the animals dosed with the highest dose levels tested and was slightly increased at the intermediate dose levels. The low-dose levels were considered 'no-effect' dose levels in both studies. Based on these preliminary findings, Schering-Plough and Valeant, our previous partner on the project, discontinued dosing of all patients in the single ongoing pradefovir Phase 2 extension study as a precautionary measure. This was considered a prudent course of action given the understanding of these preliminary findings and until the relevance of the rodent studies to man can be more fully evaluated.
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Pradefovir was already a non-factor in the HBV arena as far as I was concerned (#msg-15532100), so this news is no big deal. However, some people (e.g. Praveen and rkrw) thought pradefovir was hot stuff. Now they’ll presumably have to reconsider.