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ChemoCentryx falls as GlaxoSmithKline returns rights to Crohn's drug

  • ChemoCentryx (CCXI) suffered through a tough session Wednesday, falling more than 5% after GlaxoSmithKline (GSK) said no thank you to vercirnon, returning all rights to the CCR9 inhibitor.
  • CCXI put as positive a spin on the development as possible, noting that it is pleased to have been given "many degrees of freedom in deciding [the] valuable asset's forward path." (PR)
  • Nevertheless, GSK "shuttered the three remaining late-stage studies it had mounted" for the Crohn's drug, FierceBiotech says, citing GSK which apparently also stated that vercirnon showed "no efficacy ... with either dose over 12 weeks" in the SHIELD-1 trial.
  • More on vercirnon and SHIELD-1 here.
Comments (1)
  • Herbert Samuel Jennings
    , contributor
    Comments (176) | Send Message
     
    Investors should not look at this as a bad thing. To the contrary, this is good news for CCXI. They now own the full rights to vercirnon, whose failure to pass phase 3 shield 1 testing has yet to be explained. Methodology may very well be at fault. Should the drug be proven useful, they will own full rights. If not, CCXI stock already dropped on the announcement, weeks ago; exceeding optimisim for vercirnon is not why people still hold CCXI, so it shouldn't drop much if vercirnon were conclusively refuted in tests.
    18 Sep 2013, 07:44 PM Reply Like
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