Health
GlobeImmune Hep B Drug Fails Mid-Stage Study, Shares Plunge
Gilead Sciences Inc. headquarters in Foster City, Calif., is seen Thursday, March 12, 2009. (AP Photo/Paul Sakuma)
(Reuters) – Drug developer GlobeImmune Inc said its experimental hepatitis B drug did not reduce infection in patients after 24 weeks of treatment in a mid-stage study, sending the company’s shares down as much as 60 percent to a record low.
GlobeImmune, which is developing the drug with Gilead Sciences Inc, is among several drugmakers looking to tap the demand for hepatitis B treatments as hepatitis C drugs flood the market.
Hepatitis B is being seen as the next big opportunity in the liver disease market as it is the most common liver infection, affecting about 400 million people worldwide.
However, hepatitis B infection is much more difficult to treat than hepatitis C.
