• MediciNova Inc., of San Diego, said data from a two-year, 297-patient Phase II trial of MN-166 in multiple sclerosis showed that sustained disability progression was significantly less likely (by about 50 percent) in patients receiving MN-166 at either 30 mg or 60 mg per day for 24 months than in those receiving the drug for 12 months. The study also demonstrated that the significant reduction in brain volume loss, as measured by cranial magnetic resonance imaging, observed after 12 months in patients given 60 mg of MN-166 daily compared to placebo also was seen in year two. Additional data showed that MN-166 treatment significantly reduced the relative risk for conversion of new inflammatory lesions identified at month two to persistent black holes, an MRI indicator of neuronal loss, at month 10 by 37 percent. Data were presented at the World Congress on Treatment and Research in Multiple Sclerosis meeting in Montreal.

• Novavax Inc., of Rockville, Md., said it has completed enrollment of 300 healthy volunteers in a randomized, placebo-controlled Phase IIa clinical trial of its virus-like particle based seasonal influenza vaccine evaluating the safety and immunogenicity of different doses of the product. The goals of the study are to select a dosage for evaluation in a subsequent Phase III efficacy study and to continue the evaluation of safety of the firm's influenza VLP vaccines.

• Opexa Therapeutics Inc., of The Woodlands, Texas, said top-line data from its Phase IIb TERMS (Tovaxin for Early Relapsing Multiple Sclerosis) study showed a positive trend in the reduction in annualized relapse rate (ARR) for patients treated with Tovaxin as compared to placebo. However, this finding did not achieve statistical significance. In addition, the study did not achieve statistical significance with its primary endpoint, the cumulative number of gadolinium-enhanced brain lesions. Despite the low relapse rate in the placebo arm, this was a 37 percent decrease in ARR for Tovaxin as compared to placebo in the general population. In the group of patients who had an ARR > 1 at study entry, Tovaxin demonstrated a 55 percent reduction in ARR as compared to placebo. Shares of Opexa (NASDAQ:OPXA) plummeted $2.10, or 89 percent, to close at 22 cents.

• Pipex Pharmaceuticals Inc., of Ann Arbor, Mich., said findings from a Phase IIa trial demonstrated that estriol, the active ingredient in Trimesta, decreased matrix metalloproteinase (MMP), which plays a role in the migration of inflammatory cells into central nervous system. The decrease in MMP-9 correlated with a decrease in enhancing lesions by MRI in multiple sclerosis. Data were presented at the World Congress on Treatment and Research in Multiple Sclerosis meeting in Montreal. Pipex is testing Trimesta, an immunodulatory and anti-inflammatory molecule, in a 150-patient Phase IIb study in relapsing-remitting MS.

• Sucampo Pharmaceuticals Inc., of Bethesda, Md., said results of a Japanese Phase IIb study of Amitiza (lubiprostone) in chronic idiopathic constipation demonstrated a statistically significant increase in mean change in spontaneous bowel movements (SBM) from baseline after one week on treatment, the study's primary endpoint. Amitiza also showed a statistically significant improvement vs. placebo for several secondary endpoints. Sucampo said it plans to start Phase III testing in Japan by mid-2009.

• Trius Therapeutics Inc., of San Diego, said it started Phase II testing of the oral form of TR-701, its second-generation oxazolidinone antibacterial drug. The trial will test once-daily doses of 200 mg, 300 mg and 400 mg of TR-701 in complicated skin and skin structure infections for five to seven days of treatment.