Cephalon Drug Shows Mixed Results Monday, November 23, 2:26 PM ET
Cephalon (NASDAQ:CEPH) shares are falling today on disappointing results from a drug to treat pediatric eosinophilic esophagitis, an inflammation of the esophagus.
The results come a week after a lupus drug Cephalon had an option to develop showed disappointing results.
The drug, Cinquil, did result in a statistically significant reduction of white blood cells in the study of 226 children, but did not reach its other endpoint of improving clinical symptoms.
Cephalon paid $350 million in January to acquired the drug and the company that developed it, privalt held Ception Therapeutics.
Cinquil was expected to generate up to $500 million in sales annually. It is still being tested to treat eosinophilic asthma.
Cephalon shares are trading down over nine percent on Monday.
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