News

TechMARK movers: Oxford Bio drug moves to Phase III

24 October 2008 13:04:00

Gene therapy group Oxford Biomedica said it is moving into Phase III trials of its cancer vaccine TroVax after cross-trial analysis.

Following positive results in Phase I and Phase II trials, the group said it is working with partner Sanofi-Aventis to "perform additional exploratory analyses of the TRIST study and then, pending FDA agreement, will move ahead with the Phase III trials."

Chief executive John Dawson added, "We are optimistic that TroVax may show benefit in a subset of patients in the ongoing Phase III TRIST study in renal cancer."

Irish drug firm Elan was lower today. The group's shares rose yesterday after its said third quarter losses narrowed and it's on track to record revenues approaching $1bn.

The group also announced that plans to sell its drug delivery unit Elan Drug Technologies have been shelved due to the ongoing turmoil in the financial markets.

For the three months ended 30 September 2008 adjusted EBITDA losses narrowed to $1.6m from $14.1m the year before. Total revenue rose to $270.1m from $176.6m previously.

All data suppied by Digital Look (15 minute delay)




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