Ark places Vitor on hold

Ark Therapeutics Group plc (LSE:AKT) will place development of Vitor on hold as part of an ongoing restructuring to conserve cash. The company said a change in trial design is required for a Phase III trial of Vitor to treat cancer-induced cachexia after interim results showed no weight loss in either the Vitor group or the placebo group after 12 weeks. Ark is also considering other cost-cutting steps, including headcount reductions and decreased investments in early stage research. Ark expects its current cash to extend into 2H11. In December, the company estimated it would have L20 million ($32.2 million) in cash at the end of 2009. Vitor is a small molecule that counteracts the poisoning effects of cancer-associated cytokines. ...