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PLAY BEAT THE STREET GAME NOW
Biotech firm AbgenixABGX said it was discontinuing its clinical trials of a new psoriasis drug after it failed to meet efficacy endpoints in Phase 2 trials. The company said the drug, ABX-IL8, designed to treat patients with moderate to severe psoriasis, was well tolerated by patients and had an excellent safety profile, but the drug failed to achieve statistically significant results over the use of a placebo. In a press release, Abgenix said that because of the lack of commercial collaboration on the drug, it is less likely to meet its 2002 revenue targets, but the company reaffirmed its current guidance for an operating loss of $105 million to $120 million. Abgenix said the reduced expense of ABZ-IL8 clinical trials and cutbacks in new hiring will make up for any lost revenue. Shares of Abgenix were plunging 15% to $12.80 in premarket trading on the news after closing at $15.11 Tuesday.
Apple and AT&T were among the most searched stocks on TheStreet.com Friday. Here's what Cramer had to say about them recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Looking for deep value with Defiance Asset Management, polling big investors about where the market's headed, plus much more.
See who made what calls.
3 Stocks I Saw On TVDan Fitzpatrick examines three stocks viewed on Fast Money and Mad Money Today's stocks include Deere & Co., Petrobras and MBIA
TheStreet.com Ratings checks in on First Community Bancorp and First Niagara Financial Group two months after recommending the stock.
Take-Two's latest hit receives a perfect score from industry reviewers.
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