Development-stage drugmakers rarely ever close up shop following a failed drug program so as long as they have cash in the bank to fund some sort of clinical trial development. This is the case with AtheroGenics (Nasdaq: AGIX) following the failed testing of its AGI-1067 drug compound earlier this year.AtheroGenics and partner AstraZeneca (NYSE: AZN) announced in March that AGI-1067 failed a large, 6,000 patient study testing the compound as a treatment for atherosclerosis. Even though the primary endpoints of the study were unsuccessful, AGI-1067 may have shown some efficacy in helping patients with diabetes control their blood glucose levels.
