XOMA tanks on disappointing Phase III gevokizumab results

22 July 2015

Shares of US drug developer XOMA Corp (Nasdaq: XOMA) crashed as much as 79% to $0.92, after the company posted disappointing late-stage results with its ophthalmic drug candidate gevokizumab.

XOMA announced the Phase III EYEGUARD-B study of gevokizumab in patients with Behcet's disease uveitis, run by its partner Servier, an independent French pharmaceutical research company, did not meet the primary endpoint of time to first acute ocular exacerbation.

Gevokizumab appeared to be well tolerated in the trial. Adverse events were comparable between gevokizumab and placebo treated groups.

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