Nabi stops StaphVax development

NABI plunged $9.22 (72%) to $3.63 on 55.5 million shares on Tuesday after its StaphVax missed the primary endpoint of reduction in S. aureus infection in a double-blind, placebo-controlled Phase III trial in 3,600 end-stage renal disease (ESRD) patients on hemodialysis. NABI said it will halt development of the Staphylococcus aureus polysaccharides conjugate vaccine and will pull its MAA to market the vaccine in EU. The company also will halt development of its Altastaph vaccine, which is in Phase I/II trials to prevent and treat S. aureus infections and is based on the same capsular polysaccharide technology as StaphVax. NABI will now focus on other pipeline products including its NicVax nicotine conjugate vaccine, which is in Phase IIb testing for smoking cessation. ...