Tripep shares plummet as HIV drug disappoints
The Local Sweden - [email protected]
Published: 4 Apr, 2006 CET.
Updated: Tue 4 Apr 2006 18:10 CET
Shares in Swedish biotech company Tripep AB crash dived after the company said it will probably scrap its alphaHGA HIV-inhibiting drug after trials in Thailand showed "no significant decrease of the HIV-levels in the patients' serum".
At 1.20 pm Tripep was down 65% at 4.62 kronor, while the OMX Stockholm was down 0.53% at 342.90.
"Naturally we are very disappointed," said Tripep. "A study report will be prepared but right now it is hard to see a continuation of the alphaHGA project".
Tripep's share price went vertical in January, reaching a high of 17.90 kronor amid optimism surrounding the trials in Thailand.
Tripep said it will now focus its research and resources on Hepatitis C.
AFX
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At 1.20 pm Tripep was down 65% at 4.62 kronor, while the OMX Stockholm was down 0.53% at 342.90.
"Naturally we are very disappointed," said Tripep. "A study report will be prepared but right now it is hard to see a continuation of the alphaHGA project".
Tripep's share price went vertical in January, reaching a high of 17.90 kronor amid optimism surrounding the trials in Thailand.
Tripep said it will now focus its research and resources on Hepatitis C.
AFX
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