Diamyd falls after second Phase III miss

Diamyd Medical AB (SSE:DIAM B) fell SEK1.60 (15%) to SEK9 on Thursday after the company said it will discontinue the U.S. Phase III DiaPrevent trial of subcutaneous Diamyd to treat newly diagnosed Type I diabetics. The announcement came after a blinded review of available data that the company said suggested the study "is not likely to reach a positive outcome regarding efficacy." Diamyd will decide future plans for the product after reviewing immunological data from a European Phase III trial to treat Type I diabetes, for which detailed data will be presented at the American Diabetes Association meeting in San Diego on June 28. ...