BioCentury
ARTICLE | Finance

End of the honeymoon?

Human Genome shares stumble on missed Phase III secondary endpoint in lupus

April 26, 2010 7:00 AM UTC

Human Genome Sciences Inc. (NASDAQ:HGSI) stumbled last week for the first time since its meteoric climb last summer from micro- to large cap.

Its shares tumbled $3.05 (10%) to $28.76, slicing the company's market cap by $668 million, as additional data from the Phase III BLISS-76 trial of Benlysta belimumab to treat systemic lupus erythematosus (SLE) showed both doses of Benlysta plus standard of care missed the secondary endpoints of significantly improving patient response rate and Physician's Global Assessment (PGA) at week 76 compared with standard of care alone...