AutoImmune Shares Tumble As Myloral Fails In Ph III
The eager wait for the results of AutoImmune's Phase III trial ofMyloral (myelin basic protein) for the treatment of multiple sclerosis has ended in disappointment. Moreover, observers have noted, the failure calls into question the scientific basis behind all the company's developmental products.
Shares in the Boston, USA-based company plummeted by $9.44 to end at $4.31 at the close of trading on the day of the announcement (April 21), and had dropped still further, below the $4 level, at the end of the Marketletter's reporting period.
AutoImmune said that the preliminary analysis of data from its Phase III trial of Myloral showed no difference between active treatment and placebo, although it will conduct additional analyses of the Myloral data "before deciding what, if any, further efforts will be taken with this product."
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