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Biotech / Medical : Oxford GlycoSciences Plc
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To: Jongmans who started this subject3/21/2002 7:02:47 AM
From: nigel bates  Read Replies (2) of 469
 
LONDON, March 21 (Reuters) - Shares in Oxford GlycoSciences (LSE: OGS.L - news) Plc fell 13 percent in early Thursday trading after the British biotech firm said two patients had shown side-effects to their nervous system in extended trials for its lead drug Vevesca.
At 0935 GMT, the shares were 55 pence lower at 375p, valuing the business around 211 million pounds ($301 million).
Vevesca is currently being assessed by U.S. and European regulators as a treatment for Gaucher disease, a rare genetic disorder largely confined to Ashkenazi Jews where the body has difficulty breaking down fat.
Chief Medical Officer Chris Moyses told Reuters that two of 18 patients being treated with Vevesca showed nerve side-effects at the end of a 12 month study.
But he added such side-effects had been reported with Vevesca data as far back as April 2000 and that patients with Gaucher disease appeared to be prone to neurological problems whether they were on medication or not.
"This doesn't change our view that it (Vevesca) has potential to treat patients in a variety of diseases," Chief Executive Michael Kranda said.
But one analyst, who declined to be named, said the data injected some uncertainty as to whether Vevesca would be approved by regulators. ..
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