Xoma sinks on 1st Phase III gevokizumab failure
This article was originally published in Scrip
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.
You may also be interested in...
Public Company Edition: Codiak, Kiromic, Aligos and Opthea have fallen below their initial public offering values, while Tarsus and Praxis are trading higher. Also, 5AM, MPM and Cormorant took biotech SPACs public and Evotec led recent non-IPO financings with a €250m private placement.
Private Company Edition: Venture capital invested in pharma and biotech in 2020 totaled $19.5m through Q3, just $400m below the full-year record total of $19.9bn in 2018. Also, Canaan and Catalio reveal new VC funds, while Talaris’s $115m series B leads recent financings.
Biopharma executives discussed their strategies for treating chronic diseases during the Cell and Gene Meeting on the Mesa, including R&D and regulatory considerations.