AP
Columbia Shares Plunge on Drug Results
Monday February 5, 10:39 am ET
Columbia Laboratories Stock Nosedives on Negative Results From Late-Stage Study
LIVINGSTON, N.J. (AP) -- Shares of Columbia Laboratories Inc., which develops treatments for reproductive disorders, plunged Monday following news that its drug to prevent preterm births failed in a late-stage study.
The stock lost $3.15, or 68 percent, to reach $1.47 on the Nasdaq in morning trading. Shares reached a 52-week low of $1.37 early in the trading session.
Late Sunday, the company said a Phase III clinical trial showed the drug did not meet any of its goals in the study. In the study, 611 patients who previously had a preterm birth earlier than their 35th week of pregnancy received either the drug, also called Prochieve, or placebo. Measured at week 32, the drug showed no difference in reducing the incidence of preterm birth.
Secondary goals at week 28, 35 and 37 were also not met.
A full analysis of the data is under way, the company said, and it will report the full results at an upcoming scientific venue.
http://biz.yahoo.com/ap/070205/columbia ... .html?.v=1
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Enviado: 7/2/2007 11:49
