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Old 07-14-2006, 03:59 PM   #2
Christine MH-UK
Senior Member
 
Join Date: Sep 2005
Posts: 414
Company seems to be having some trouble

Hi Donna,

I have been watching what is going on at Pharmexa for about two years now and the company seems to be having trouble getting its her2 vaccine through the hurdles, partly because it has been tweaking it to get it more effective. For example, this is the second time that it is running a phase II trial, because it didn't get the results it would need to show effectiveness, presumably because of the design of the original trial. To get anywhere, it is going to need the support of a bigger partner and has been in talks with Glaxo.

Here are the results of the first phase II trial, announced late last year:
"Two out of seven treated patients have shown signs of tumor effect (a reduction of the tumor). These patients are still in treatment and will remain in treatment until their tumors progress. Two additional patients showed stable tumors after 8 weeks at which time the treatment was stopped according to the protocol due to a lack of a measurable antibody response, but the period was too short to say whether this constituted an effect."

As Pharmexa has run into hurdles, it has moved to cheaper countries. I believe that the European phase I trial took place in the UK a while back, and the phase II was originally supposed to take place in Germany and Italy. One stock analysis website lists the stock as a sell, partly because of its slow progress on its her2 vaccine http://www.dailywallstreet.com/analy...php?ID=1315705 and if other analysts feel the same way, this will hurt its ability to raise the money to run the trials. It has also recently been involved in a long-running lawsuit over patents on another protect, for which it has had trouble finding a partner, so I am somewhat skeptical that the company has the money for a U.S. trial at present, unfortunately. Right now the company has no products on the market and therefore is rather vulnerable and needs to be cautious.

It seems to be like the phase II might be as much to attract the interest of GSK, which has expressed an interest and might want to use some of Pharmexa's technology to improve its own vaccine, but that's just my guess.
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