Dec 17 Neurobiological Technologies Inc
NTII.O stopped further enrollment in the clinical trials of
its experimental treatment for acute ischemic stroke after an
independent data safety monitoring board determined the drug
did not improve overall patient outcomes.
The interim analysis conducted by the board compared the
drug Viprinex with a dummy drug in treating stroke patients.
The board determined there was no clinically meaningful
difference in outcome between the two treatment groups.
The company, which called the news "a significant
set-back," said it would analyze the data before evaluating the
potential for any future development of Viprinex.
"In the meantime, we are implementing plans we have
developed to reduce our expenses, which will likely result in a
significant reduction in our overall headcount if we determine
that future development of Viprinex is not warranted," Chief
Executive Paul Freiman said. The company's shares, which have
lost 85 percent of their value over the last 12 months, closed
at 46 cents Tuesday on Nasdaq.
(Reporting by Esha Dey in Bangalore; Editing by Jarshad