XenoPort's PD drug disappoints, failing next to Sinemet
This article was originally published in Scrip
XenoPort said that preliminary top-line results from 28 evaluable patients in a Phase II trial of its investigational Parkinson’s agent XP21279 (sustained-release transported prodrug of levodopa) plus carbidopa did not met the primary endpoint and showed no difference from a standard drug. XenoPort has aimed to show that the co-formulated product, designed for sustained release, can reduce the fluctuations of levodopa in the bloodstream compared to the standard of care, Sinemet (immediate-release levodopa/carbidopa).
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ChemoCentryx has successfully completed its initial public offering on Nasdaq, raising $45 million to help support its multiple R&D programmes. It sold 4.5 million shares at $10, a somewhat less ambitious debut than it had originally planned in January when it wanted to sell four million shares at $14-$16. The reduced offer is a sign of the challenging nature of the IPO market, but ChemoCentryx's assessment of its own worth was at least closer to the market’s assessment that Cempra which got its IPO away on 6 February at valuation that was less than two-thirds of that implied by its initial prospectus (scripintelligence.com, 7 February 2012).
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