Specialty drug maker SciClone Pharmaceuticals Inc. (NASDAQ: SCLN) announced this morning that the company will “discontinue development” of its SCV-07 oral mucositis drug because the drug failed to “meet the pre-specified efficacy endpoints” of the phase 2b trials.
From the company’s announcement:
SciClone is notifying the FDA and study investigators of the trial’s discontinuation. No additional patients will be enrolled in the trial. Dosing of subjects currently enrolled in the trial will be discontinued, but subjects will be followed per protocol for a full year.
The company noted that there were no safety issues with SCV-07. The drug simply did not do what it was intended to do.
SciClone’s shares closed at $4.52 yesterday, in a 52-week range of $3.30-$6.88.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
