U.K. biotech analysts are writing off Phytopharm as a lost cause after its lead drug proved to be a complete failure in a 400-patient Parkinson's study.
The Guardian sings a dirge for the biotech dead as it counts the victims among the small-cap developers in recent times. It's a familiar obituary: Antisoma, now a brain-dead shell company, Renovo,
Abandoned by its partner and staring at the conclusive failure of its lead drug in Phase III, the UK's Renovo has slammed the brakes on spending. The developer says it will lay off 100 workers in a
In a terse release, the UK's Renovo said a Phase III trial for Juvista in scar revision surgery did not meet primary or secondary endpoints. The company's stock plunged 75 percent on the news. And
A mystery bidder has pulled out of buyout talks with the UK's Renovo and the anti-scarring drug developer has responded by laying plans to slash more than a third of its staff of about 180. The
Shares of Renovo spiked this morning on news that the developer had received an unsolicited inquiry from an unnamed suitor. A company spokesperson says there's no guarantee that Renovo will be the
After seeing its stock price hammered in March on mixed
Up until last week, Renovo was the poster child for success in the UK's biotech industry. Then after one of its therapies failed
Investors have always had a habit of overreacting to biotech news, but yesterday's mauling of the UK's Renovo may indicate that shareholders are moving to DEFCON 1 panic mode. As we reported,
Renovo's Juvista produced a mixed set of data in two mid-stage trials. The drug produced positive data in reducing scarring but failed to demonstrate efficacy during a breast augmentation trial.