YM shares hit on clinical trial hold

Canada's YM BioSciences saw its stock take a nasty hit after it announced that the FDA had put a mid-stage trial of its AeroLEF pain therapy on hold as it seeks safety data on volunteers in earlier studies. YM BioSciences says the agency wants data on patients who experienced oxygen desaturation during clinical trials, adding that a subgroup analysis will be conducted. Shares were down 15 percent this morning.

"Data reported in May 2007 from our successful randomized Phase IIb trial demonstrated that patients had a statistical and clinical benefit from AeroLEF," said Dr. Diana Pliura, YM's executive vice president. "We remain strongly committed to the clinical development of this unique product.'

- see this release

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