Renovo plummets after Juvista data

Renovo Group plc (LSE:RNVO) fell 51.5p (75%) to 17p on Friday after reporting top-line data from the Phase III REVISE (RN1001-0091) trial of Juvista avotermin to prevent and reduce scarring following surgical procedures. The intradermal injection of human recombinant transforming growth factor (TGF) beta 3 given once following wound closure and again 24 hours later missed the primary endpoint of significantly improving a photographic-based assessment of scarring by an independent panel using the Global Scar Comparison Scale at 12 months vs. placebo. Renovo said it will determine next steps after all data from the trial are evaluated. The double-blind, international trial enrolled more than 350 patients.

Shire plc (LSE:SHP; NASDAQ:SHPGY) has North American rights to Juvista. On Friday, Shire was up 24p to 1,695p. On NASDAQ, the stock was up $0.61 to $81.49. ...