ZURICH, June 25 Shares in Swiss biotech company Basilea fell 8 percent in early trading on Wednesday following a setback to its efforts to gain U.S. approval for its ceftobiprole treatment for pneumonia.
The company said in a statement it had been told by the U.S. Food and Drug Administration (FDA) that potential regulatory approval of ceftobiprole would require additional phase 3 data.
Basilea said it did not intend to begin new phase 3 trials for the treatment without a partner in the United States.
At 0720 GMT shares in Basilea were trading down 8.3 percent at 105.80 Swiss francs. (Reporting by Joshua Franklin)