Alizyme's 2008 loss narrows 67% to $14.6M
UK drug developer Alizyme's 2008 loss narrowed 67.6% year-on-year to GBP10.1 million ($14.6 million), as revenue rose to GBP1.9 million from GBP13,000 in 2007. However, on the day of the news, March 23, shares fell 24% as investors were disappointed by a lack of new on a licensing deal for its lead candidate, the obesity product cetilistat.
Last year, Japanese drug major Takeda decided to initiate a Phase III study of cetilistat, triggering a $3.0-million milestone, the UK firm is still negotiating licensing deals for the USA and Europe, where the lipase inhibitor is still unpartnered.
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