Valentis may consider selling up, following failure of VLTS 934
California, USA-based Valentis suffered a serious setback on July 11, when the company revealed that there were no statistically-significant differences between the primary or secondary endpoints in a Phase IIb clinical trial of its peripheral arterial disease drug candidate VLTS 934. The news sent the firm's share price tumbling nearly 80% to $0.70. Commenting on the situation, chief executive Benjamin McGraw said: "the company has no plans for further development of the product and is assessing strategic opportunities, which include the sale or merger of the business, the sale of certain assets or other actions."
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