After stoking investors' dreams of a turnaround, Xoma delivered another nightmare. The Berkeley, CA-based biotech reported early Wednesday that a Phase III study of gevokizumab in patients with Behçet's disease uveitis was a bust.
On Thursday, all of the content on Xoma's website was replaced by a single phrase.
After the markets closed on Tuesday, Xoma put out the word that its main pipeline asset, gevokizumab (Xoma 052) flunked a Phase II program for erosive osteoarthritis of the hand, ending any shot it had at a broad pivotal study in that indication.
Xoma has chosen a new home for a fixed-dose combination product for reducing blood pressure, transferring the asset to the startup Symplmed Pharmaceuticals in exchange for equity in the new company and up to double-digit royalties on potential U.S. sales.
Xoma says it hit its primary endpoint in a late-stage test of a blood pressure combo including Servier's perindopril, setting the stage for an NDA as the biotech goes hunting for a partner to market the therapy in the U.S.
CMC Biologics is a buying Xoma's large-scale manufacturing facility in the Bay Area, giving the company a regional foothold in one of biotech's hotbeds.
Tel Aviv-based Compugen has opened shop in a promised land of biotech, South San Francisco.
Xoma ($XOMA) has rung in 2012 with major cutbacks and organizational changes. The Berkeley, CA-based biotech company aims to axe 84 jobs or 34% of its work force by the end of the first quarter with
About 5 months after Xoma's ($XOMA) lead drug flamed out in a crucial mid-stage study, Steve Engle has resigned as CEO and chairman of the beleaguered biotech. The company quickly tapped board member
Xoma's lead drug failed a Phase IIb diabetes study and news of the debacle quickly sent its stock into a tailspin, wiping out 37% of the biotech's market value in minutes yesterday evening. The trial