Foresight has its benefits. Because Alteon Inc. gave itself some wiggle room when designing its Phase III studies of Pimagedine in diabetes, the company was able to amend one of its trial protocols after seeing side effects without compromising its ability to complete the study. Nevertheless, investors last week lopped 17 percent ($1.25) off the stock, which closed Friday at $6.

ALTN (Ramsey, N.J.) is running two ACTION (A Clinical Trial in Overt Nephropathy) trials in diabetics. Pimagedine is an inhibitor of advanced glycosylation end-products (AGEs), abnormal glucose/protein complexes that lead to diabetic complications.