Abgenix, Inc. (ABGX) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Abgenix, Inc. (ABGX)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: IRWIN JAMES FRANKEL who wrote (67)	1/5/2002 8:33:39 AM
From: sim1	Read Replies (1) of 590

Abgenix Halts Arthritis Drug Development Associated Press January 5 2002 Abgenix Inc. said it was abandoning development of an experimental rheumatoid arthritis drug because it failed to prove effective in patients enrolled in a phase II clinical trial. The announcement sent shares of the Fremont, Calif.-based company down $1.98, or 6%, to $29.70 on Nasdaq. The company said it will continue to explore using the antibody-based drug as a treatment for other diseases, including psoriasis. Some analysts are skeptical the drug will work for other diseases. "The rheumatoid arthritis results could be a harbinger for psoriasis," said Felicia Reed, an analyst with Boston-based Adams, Harkness & Hill Inc. Reed said Abgenix has a promising cancer drug in phase II clinical trials, and the company is expected to begin tests on several other drugs this year. * Associated Press

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next