Ebb & Flow

Dov (DOVP) fell $2.98 (17%) to $14.99 on 5.2 million shares on Friday after suspending dosing in a Phase III trial of ocinaplon to treat generalized anxiety disorder. The suspension followed enzyme elevations in liver function tests (see B9).

All in all, a 17% drop isn't drastic following a Phase III hiccup. The compound isn't dead - DOVP plans to unblind the study and evaluate safety data before deciding whether to proceed or revert to a preclinical backup program. And DOVP has another Phase III compound - bicifadine - to treat pain. ...