HGS stock dives on drug safety concerns

Human Genome Sciences watched its stock take a dive this morning after an independent data monitoring committee noted lung-related side effects in patients receiving 1200-microgram injections of the hep C drug Albuferon every two weeks. Patients at that dosage level in the Phase III trial are being shifted to a 900-mcg injection every two weeks. HGS says it still expects to have late-stage data on the drug in the spring of 2009, with a marketing application to follow in late 2009. But that was no comfort to investors, who took a 22 percent bite out of its stock as Wall Street in general got off to another rocky start.

- see this release
- read the AP report for more