Biotech Values

[dav1234]

Reata Pharmaceuticals has told Abbott Labs (ABT -4.4%) that it's discontinuing Phase 3 trials of bardoxolone methyl in patients with advanced chronic kidney disease and Type 2 diabetes following "excess serious adverse events and mortality." Reata and Abbott, which holds the rights to the drug outside the U.S., will examine the data to see whether it can still be developed. (8-K) [