Originally published January 17 2006
Liver disease drug found ineffective in phase III trial
by Mike Adams, the Health Ranger, NaturalNews Editor
California-based SciClone Pharmaceuticals Inc.saw its stock plunge after trial data for its drug treatment of hepatitis C liver disease revealed that patients received no benefit from the drug.
Shares of SciClone Pharmaceuticals Inc. plunged Wednesday, after Phase III trial data for the company's drug to treat hepatitis C liver disease showed no significant benefit to its patients.
Stock of the San Mateo, Calif.-based company fell $1.49, or 39 percent, to $2.36 in early afternoon trading on the Nasdaq Stock Market.
Volume was heavy, and Wednesday's weakest level was $2.30.
On a 52-week basis, there was a low of $2.10 on May 4 and a high of $8.18 on Aug. 2.
SciClone said trial data for its hepatitis C treatment drug Zadaxin didn't show significant improvement in patients for which interferon- based therapy had failed previously.
Interferons is any group of glycoproteins that are produced by different cell types in response to various stimuli, such as exposure to a virus, and that prevent viral replication in newly infected cells.
The company said it was "disappointed" with those results.
SciClone develops therapeutics to treat life-threatening diseases.
The company's lead product is Zadaxin, and its other principal drug development candidate is SCV-07, currently in Phase I development, being evaluated for the treatment of viral and other infectious diseases.
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