Speaking of approvals (or lack thereof), ALTN just lost more than half of its value today as their TZD, Pimagedine (like Rezulin), did not fair well at the FDA:
Alteon tumbles on endangered Type 2 diabetes trial
NEW YORK, March 19 (Reuters) - Shares of Alteon Inc.
ALTN.O tumbled Thursday after a company advisory panel
recommended ending a late-stage trial of Alteon's candidate
drug pimagedine for Type II diabetic patients with overt
nephropathy, or kidney disease.
Shares were off 4-9/16 to 5-5/16, or 46 percent, in morning
trade.
The Ramsey, N.J., company said Wednesday its External
Safety Monitoring Committee advised ending the phase III trial
based on "observation of an increased incidence of side effects
in the Type II population" tested with the drug.
Alteon said the independent committee, comprised of
physicians and medical specialists, made its recommendation
after seeing data from a trial that began in July 1995 of 599
patients with adult-onset Type II diabetes.
Alteon said the committee, however, recommended
continuation of a Phase III trial of the drug among 690
patients with the typically more severe Type I early-onset form
of diabetes.
That trial, also of patients with nephropathy, began in
January 1994 and is expected to be completed late this year.
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