Neurobiological Technologies, Inc. Stops Enrollment in Stroke Drug Trial
Published: Dec 17, 2008
"We are deeply disappointed that Viprinex did not improve overall patient outcomes in our clinical study," said Paul E. Freiman, president and chief executive officer. "This news is a significant set-back for our clinical program. Once we obtain the data and we have analyzed the results from this study, which we expect to occur in early 2009, we will determine whether we will pursue any further 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."
About Neurobiological Technologies, Inc.
Neurobiological Technologies, Inc., (Nasdaq: NTII - News) is a biopharmaceutical company focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The Company's most advanced product candidate, Viprinex(TM) (ancrod), has been studied in Phase 3 clinical trials for evaluation as a new drug to treat acute ischemic stroke; the future development of Viprinex is under consideration. NTI also has early- stage development programs for Alzheimer's and Huntington's diseases and rights to receive payments on an approved drug for Alzheimer's disease and an investigational drug in Phase 3 trials for brain swelling.
Source: Neurobiological Technologies, Inc.