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candidates failed. The drug, ferric citrate (Zerenex), met both its primary and secondary goals in a Phase III clinical trial for patients on kidney dialysis. Keryx’s stock price soared from $3.43 last Friday to $9.08 by the close on Thursday.
—On the flip side, Celsion (NASDAQ: CLSN), based in Lawrenceville, NJ, reported on Thursday that its lead drug candidate Thermodox, a proprietary reformulation of the chemo drug doxorubicin, did not even come close to meet its goals in Phase III clinical trial for treatment of primary liver cancer. That failure could endanger a development deal Celsion signed just last week with Zhejiang Hisun Pharmaceutical, a major Chinese drug company, which could be worth up to $100 million.
—Genzyme, the Cambridge, MA subsidiary of Sanofi (NYSE: SNY), got some good news on Tuesday when the FDA approved the drug mipomersen (Kynamro) as a treatment for a rare inherited disease that causes very high levels of cholesterol in the blood. Genzyme developed the drug with Isis Pharmaceuticals (NASDAQ: ISIS) of Carlsbad, CA, and Genzyme will now pay Isis a $25 million milestone payment.
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