⇨ The penny stock biotech Mateon Therapeutics $MATN, formerly OxiGene, says it is scrapping a Phase II/III ovarian cancer study of CA4P in combination with Avastin after a recent futility announcement. The biotech says it will now shelve the drug and needs to ax 60% of its staff while senior execs take a 50% pay cut to preserve capital as they shift focus to another therapy in the pipeline.
⇨ Just a few days after seeing its stock price take a hit on J&J’s decision to scrap a late-stage hep C cocktail which it had contributed to, Medivir $MVIR got a boost from positive top line data for MIV-711 in patients with moderate knee osteoarthritis.
⇨ Novo Nordisk says that regulators in China have OK’d the sale of its drug Tresiba. The long-acting insulin can now be marketed in what Novo calls the biggest single diabetes market in the world.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 25,000+ biopharma pros who read Endpoints News by email every day.Free Subscription