Neurobiological Technologies says that the late-stage data gathered so far on Viprinex doesn't justify further research as a treatment for acute ischemic stroke and the developer immediately announced it would lay off 75 percent of its staff. The developer had already announced in December that it was suspending enrollment in the trial for Viprinex, saying that the data didn't demonstrate any improvement for patients taking the therapy.
"Following a thorough review of the interim data, it was determined that there was no group of patients in which Viprinex improved outcome, and therefore further development is not warranted," said Warren W. Wasiewski, chief medical officer. "We are very disappointed that another potential treatment for this devastating disease has failed to show benefit for this patient population."
The Emeryville, CA-based developer said that it would make further unspecified cuts as it scrambles to preserve its remaining assets. NTI says it also has early-stage development programs for Alzheimer's and Huntington's diseases and rights to receive payments on an approved drug for Alzheimer's disease and an investigational drug in Phase III trials for brain swelling. Most of the layoffs will be made this week.
Viprinex was developed from the venom of the Malayan pit viper. And it proved toxic to the company's stock value. Shares of NTI closed yesterday at 45 cents.
- check out the press release