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Biotech / Medical : NEORX(nerx) -- Ignore unavailable to you. Want to Upgrade?

To: Anonymous who wrote (643)	10/3/2001 9:15:33 PM
From: Bob L	Respond to of 661

NeoRx says it hopes to resume trials of its myeloma drug Wednesday, October 3, 2001 SEATTLE POST-INTELLIGENCER STAFF NeoRx Corp. took its show on the road yesterday, telling a group of institutional investors at a conference in Tennessee that it hopes to resume a trial of its lead product early next year. Douglass Given, the company's new president and chief executive, presented information about the company's stalled trial and said NeoRx hopes to increase its revenues by beginning contract manufacturing at its Denton, Texas, facility next year. NeoRx has been in turmoil since the Food and Drug Administration stopped its skeletal targeted radiotherapy, or STR, trial in November after some patients developed life-threatening side effects. The trial was testing the drug in patients with multiple myeloma. But Given told the group assembled at the Raymond James Healthcare Conference in Nashville, Tenn., that the company will propose a new Phase 3 clinical trial that will take steps to "mitigate" the side effects. "The news in this is that we continue to see strong activity of STR, and we're increasing our understanding of side effect profile necessary for successfully delivering it as a therapeutic and getting through the regulatory process," Given said in an interview. NeoRx will address investors at two other meetings in New York later this month. NeoRx, which saw its stock trade as high as $54.75 a share in March 2000, has largely been abandoned by investors and Wall Street analysts. It stock fell 24 cents or almost 7 percent to close at $3.21 a share yesterday, after climbing nearly 40 percent Monday.