AstraZeneca's Results Boost Tiny Renovis
By Robert Steyer
TheStreet.com Staff Reporter
5/4/2005 1:03 PM EDT
AstraZeneca (AZN :NYSE - commentary -research ) reported mixed results for a late-stage clinical trial of an experimental drug for treating stroke but said it hopes to submit the product for regulatory review during the second half of 2006.
At the same time, the shares of another company involved in the product's development were nearly doubling in heavy trading Wednesday.
The clinical trial involved Cerovive, one of the few AstraZeneca drugs in late-stage clinical development. According to preliminary results, patients taking Cerovive demonstrated statistically significant improvements compared with patients taking a placebo, according to one measurement. But when applying another standard for testing stroke patients, researchers found no significant difference between the two groups.
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