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Biotech / Medical : Neurogen (NRGN)

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To: phbolton who wrote (131)	12/10/1997 12:36:00 AM
From: Volcano888	Read Replies (1) of 523

for what it's worth, a brief comment here from company spokesperson: ... NEW YORK, Dec 9 (Reuters) - Neurogen Corp shares fell after the company said patients in an early-stage test of its obesity drug NGD 95-1 experienced a "significant elevation of certain liver enzymes." "We were surprised by this because we had not seen it in any human testing we had done, nor had we seen it in an animal testing," said Amy Enders, a company spokesperson. She said the company will continue to examine the results of the study. She also said the company is still unsure whether the higher liver enzymes were created by the drug." Analysts said the results may mean a slight shift in strategy for Neurogen. "It looks like it's probably going to mean that compound will not be the one they move forward with into advanced clinical development," said analyst Thomas Deitz at Pacific Growth Equities. "They're going to have to go with one of their backup compounds, which will delay that program by at least 12 months," he added. Deitz said investors had been placing a lot of the company's near-term value on the drug.

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