LONDON (SHARECAST) - Drug group Evolutec collapsed Monday after it said its rEV131 hay fever treatment performed no better than a placebo. “No significant differences were observed between rEV131 and placebo in the phase IIb trial in allergic rhinitis and the primary endpoint was therefore not met,” it said in a statement.
“This is tremendously disappointing for Evolutec and its shareholders,” said chief executive Mark Carnegie Brown.
“We will review our intended programmes with rEV131 once the post-cataract results are received early next year and in the interim will continue to progress rEV576.”
The company is expected to report final results on 27 February.
The company is expected to report final results on 27 February.
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