Biota Pharmaceuticals' slow trip downward continued Friday as the company disclosed that its its lead program, a flu treatment called laninamivir octanoate, failed to beat out placebo in a midstage study, sending its shares to an all-time nadir.
The news out of Biota Pharmaceuticals has been a steady drumbeat of defeat, setbacks and layoffs for the past two years. And this week the dirge grew even louder with the announcement that the biotech company is slashing the bulk of its staff several weeks after it lost a key government contract to support its work on a new flu drug.
Amidst a challenging R&D environment, Atlanta-based Biota Pharmaceuticals has dumped its preclinical antibiotics program, saying that it will continue to seek out licensing agreements and other deals to advance the development of its candidates.
Following its marked growth over the past few years, New Jersey's Catalent is consolidating its drug delivery operation and teaming up with a drug developer to push a new influenza treatment forward.
Today, Nabi's new strategy took shape in the form of a merger with Australia's flu drug developer Biota, which is now moving its headquarters to the U.S.
Just a month after granting major contracts to VaxInnate and Novavax, BARDA is giving $231 million to Australia-based Biota for the company's flu treatment laninamivir. The drug is a long acting
Australia's Biota says a late-stage Asian trial of a new influenza therapy aimed at the blockbuster space occupied by Tamiflu delivered positive data, setting it up to begin commercialization as it
The world may be waiting for WHO to determine whether the swine flu outbreak is indeed a pandemic, but investors aren't waiting to place their money on "yes." Pharma stocks in general are on the
Boehringer Ingelheim must be happy with its previous partnership Â with Ablynx.
Coley Pharmaceutical of Wellesley, MA is shuttering its development program for the hepatitis C drug Actilon after a mid-stage trial failed to show any benefit in reducing viral load. Coley terminated 33 workers, or about a quarter of its staff, and announced that it is shifting gears in research to focus on RNA therapies that stimulate Toll-like receptors. The company is also outsourcing its drug discovery work. Altogether, Coley execs say the restructuring will save $15 …