BioLine (BLRX -51%) craters after discontinuing Phase II/III Clarity trials for its...

|By:, SA News Editor

BioLine (BLRX -51%) craters after discontinuing Phase II/III Clarity trials for its antipsychotic-drug BL-1020, saying it wasn't effective when compared with the antipsychotic Risperidone, its primary efficacy endpoint. The company plans to complete its analysis of the data to determine if there may be future potential for the product. As a result of the discontinuation, the company expects to incur a $6M to $7M reduction in planned R&D expenses for the rest of 2013 and part of 2014.