Polyphor In Peril After Breast Cancer Drug Failure
Shares Crash On Balixafortide Setback
Polyphor has seen its remaining asset balixafortide bite the dust and "a strategic assessment regarding the future of the company" is underway for a firm that not so long ago was seen as a rising star in the Swiss biotech sector.
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The Swiss firm is still examining options for the iv formulation of its novel antibiotic murepavadin even after it closed its two Phase III studies on safety concerns.
The Switzerland-headquartered group has suffered a setback as a couple of Phase III trials of its lead antibiotic were stopped temporarily after an unexpectedly high number of patients reported kidney injury.
The Swiss major's oncology business performed well in the third quarter with Kisqali sales catching the eye despite the specific problems that the pandemic has brought for breast cancer patients.