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Inhibitex down on failed Phase III

April 4, 2006 12:25 AM UTC

On Monday, INHX fell $4.79 (66%) to $2.47 on 14.9 million shares after Veronate missed the primary endpoint of preventing hospital-acquired S. aureus infections in a Phase III trial in very low birth weight infants. In the double-blind, placebo-controlled, North American trial in 2,017 premature infants, there were no trends in favor of Veronate on the secondary endpoints of reduction in the frequency of bloodstream infections caused by Candida species, reduction in bloodstream infections caused by coagulase-negative staphylococci (CoNS) and reduction in all-cause mortality. The company plans to conduct further analyses to try to reconcile the Phase III results with results from prior trails. INHX also will convene a panel of outside experts to review all findings related to the Veronate program. ...