Trials Delayed At ML Labs, Shares Drop

ML Laboratories in the UK was badly hit last week by reports that two ofits research programs have been delayed and that profits for the year to September 30 had dropped. Shares in the company closed down 24 pence ($0.39) at L1.12 on the day of the announcement.

The company said that a Phase II dose-escalation study of Prolog, its immunotherapeutic for prostate cancer, had been delayed because of "difficulties encountered in obtaining adequate supplies of the clinical trial vaccine" from its contract manufacturer. However, it adds, "patient entry to the study is now back on course."

Furthermore, "due to the shortage of patients," interim data from a trial of its anti-HIV treatment, D2S, "will now not be available until the second-quarter of 1998," according to its report. D2S will target "rescue" patients only - those who are resistant to current therapies. However, it is estimated that only about 20% of patients fall into this category.