Shares of Pozen Inc. fell 27.8 percent on a double dose of potentially troublesome news involving a delay in one of its investigational NSAID programs and a generic challenge to its recently approved migraine drug Treximet. (BioWorld Today)
Shares of the South San Francisco-based firm's stock (NASDAQ:CEGE) hit rock bottom on the news, tumbling 72 percent, or 44 cents, to close Thursday at a meager 17 cents. It's a record low for the company, which had traded close to the $3 mark in late August before falling 70 percent when its other Phase III study of GVAX was terminated due to an imbalance of deaths in the treatment arm. (BioWorld Today)
Recognizing collaboration revenue has never been as easy as it sounds - that impressive $100 million up-front payment, for instance, actually might be amortized over the life of the partnership. But increased SEC scrutiny on collaboration revenue, combined with the growing complexity of biotech deals, has proved a headache for accounting departments throughout the biotech industry. (BioWorld Today)
Only a day after reporting positive interim results from a Phase II study of its Fibrin Pad product in mild to moderate bleeding, Omrix Biopharmaceuticals Inc. said the study has been suspended to investigate an incident of postoperative bleeding. (BioWorld Today)