Updated from 2:42 p.m. EDT
Clinical updates peppered biotech news Monday, proving positive and negative for some individual stocks but inflicting little consequence on health indices.
Accentia Biopharmaceuticals (ABPI) said that according to data from an ongoing phase III trial for SinuNase, most if not all cases of chronic sinusitis, or CS, are due to fungal-induced inflammation.
SinuNase, Accentia's lead pharmaceutical product, is an intranasal formulation of the antifungal amphotericin B 0.01% suspension. If approved, SinuNase, which has fast-track status from the Food and Drug Administration and is licensed to IMMCO Diagnostics, will be the first therapy available to treat sufferers of CS. Accentia shares gained 27 cents, or 10.8%, to close at $2.76.Pharmasset (VRUS) said that according to results from a phase I study, its R7128, a candidate for treating chronic hepatitis C, demonstrated potent, dose-dependent antiviral activity across four patient cohorts receiving 750 milligrams or 1500 milligrams once or twice a day for 14 days and was safe and well-tolerated. Based on the positive results, Pharmasset and its partner Roche said that in late September they plan to start enrolling patients chronically infected with HVC genotype 1 for a 28-day study to determine the safety and tolerability of R7128 in combination with the current standard care of Pegasys plus Copegus. Pharmasset shares rose $1.60, or 15.4%, to close at $12.