Xoma sinks on 1st Phase III gevokizumab failure
This article was originally published in Scrip
Executive Summary
Xoma fell 77.3% to close at $1 per share on 22 July after the company revealed the first Phase III failure for lead therapeutic candidate gevokizumab in a clinical trial run by partner Servier to test the Interleukin-1 (IL-1) beta inhibitor in Behcet's uveitis, a rare eye disease.