Shares of SciClone Pharmaceuticals(SCLN Quote) were among the worst-performing health-related stocks Wednesday, tumbling 41% after the company's hepatitis C drug Zadaxin failed to provide a statistically significant benefit for patients in a Phase III trial.
"While all of us at SciClone are disappointed that this trial did not achieve statistical significance, there are several other important trials ongoing for Zadaxin including the triple therapy HCV clinical trial as well as a phase 2 malignant melanoma trial, both trials being conducted in Europe," the company said. Zadaxin was well-tolerated in the trial and no treatment-related toxicities or side effects were reported.
Looking ahead, SciClone expects to release data in May from a second Phase III trial of Zadaxin in combination with pegylated interferon alpha to treat certain patients with early cirrhosis of the liver. Shares were recently trading down $1.56 to $2.29. ...
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