Shares of Introgen Therapeutics tumbled 20 percent yesterday after TheStreet's Adam Feuerstein questioned whether its late-stage therapy Advexin was as effective as the company has billed it. And Feuerstein used Introgen's studies to make the case that its head and neck cancer drug failed to measure up to the company's comments. Introgen, which recently reduced its head count, applied for FDA approval of Advexin after more than a decade of research work. A spokesperson for the company referred a reporter from the Houston Business Journal to its attorney, who couldn't be reached for comment.
Feuerstein is extravagantly unapologetic. In his story he notes that he panned Introgen back in December with the following: "Introgen is a terrible company. Advexin is junk. The drug doesn't work. The data are manipulated and false. Management misleads."
- read the report from the Houston Business Journal