Will GSK quit on Nabi after PhIII nixes NicVax smoking cessation vaccine?
This article was originally published in Scrip
Investors fled from shares of Nabi Biopharmaceuticals after the firm reported that its investigational nicotine vaccine, NicVax (nicotine conjugate immunotherapeutic), missed the primary endpoint in the first of two confirmatory Phase III trials. Its market capitalisation fell $180 million, as shares of the Rockville, Maryland-based firm fell by $3.74, or 66%, to close at $1.89 on 18 July. The results of the second trial are not expected until late this year or early 2012.