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Biotech / Medical : Techniclone (TCLN) -- Ignore unavailable to you. Want to Upgrade?

To: EZLibra who wrote (3495)	3/20/2000 5:58:00 PM
From: Terry D.	Read Replies (2) \| Respond to of 3702

Another after hours fragmented news story. You really have to read this to make any sense of it. Once again old news made to appear new. Defaulted on Loan? Interim CEO had resigned? Interim? .LOS ANGELES, March 20 (Reuters) - Shares of Techniclone Corp. (NasdaqSC:TCLN - news) fell 25 percent on Monday amid confusion over development plans for Oncolym, a cancer antibody that is the company's lead drug candidate. Shares of the Tustin, Calif.-based company fell 2 to close at 6-1/16 on on Nasdaq. In documents filed at the Securities and Exchange Commission last week, Techniclone outlined plans to begin a new single-dose clinical study of Oncolym, a development-stage treatment for Non-Hodgkin's B-cell lymphoma. The company announced last December that it had halted Phase I/II clinical trials of the tumor-targeting agent but expected that marketing partner Schering AG would launch a new single-dose trial in the first quarter of this year. A spokeswoman for Techniclone said on Monday that a Phase III trial will be launched in the second quarter of this year. In early December, after the company also announced it had defaulted on a $3.3 million loan and that its interim chairman had resigned, its stock was trading below 50 cents a share. Techniclone said on Monday it believes that a single higher dose of Oncolym may be more competitive in the marketplace. ``The original trials of the drug called for patients to receive three injections, a process that proved to be too cumbersome and expensive. The cumbersome protocol also made it difficult to recruit patients into the clinical study, thus slowing its progress,' John Bonfiglio, Techniclone's interim president, said in a statement issued on Monday. The company also said analysis of clinical data showed that about 80 percent of the patients treated with a therapeutic dose of Oncolym responded well to the first dose. Techniclone said the maximum tolerated dose for the new study will be determined through an 18 patient dose escalation study. Once the maximum dose is discovered, 28 patients will be treated to measure efficacy as part of a Phase II/III study. Subsequent to the treatment of the 28 patients, about 112 patients will be treated as part of the Phase III trial.