ARYX -55% to 1.92 on miss.
ARYx blood clot treatment fails in study
ARYx Therapeutics' blood clot treatment fails to meet treatment goal in late-stage study
On Wednesday July 8, 2009, 7:25 am EDT
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Companies:Aryx therapeutics, inc.
FREMONT, Calif. (AP) -- Biotechnology company ARYx Therapeutics Inc. said Wednesday the experimental anticoagulant tecarfarin failed to meet its key treatment goal in a late-stage study.
The study involved 612 patients with a range of conditions including a history of blood clots, abnormal heart rhythm, and heart attacks. The aim of the study was for tecarfarin to work more effectively than the anticoagulant warfarin.
The company said its drug candidate failed to meet the goal, in part, because warfarin performed better than expected.
"The result for the warfarin group was unexpected based upon the extensive history of prior studies and published literature for the drug," the company said, in a statement.
The company said it will fully analyze the study data before continuing ongoing partnership discussions with several large pharmaceutical companies to determine the future development of tecarfarin.
Shares of ARYx fell 53 cents, or 12.6 percent, to $3.68 in premarket trading. |
