ALCHEMIA SHARES PLUNGE

Written on the 28 October 2014

ALCHEMIA SHARES PLUNGE

SHARES in Alchemia (ASX:ACL) have dived 83 per cent after the company announced its metatastic colorectal cancer trial had failed.

The treatment tested Alchemia’s HyAct technology formulated with chemotherapeutic drug irinotecan over using irinotecan alone.

HA-irinotecan did not improve progression free survival in patients.

Alchemia CEO Thomas Liquard says the company will conduct an in-depth review of the trial.

“We are extremely disappointed in the outcome of this trial and extend our appreciation to trial investigators, the clinical sites and the hundreds of patients who participated in this study,” Liquard says.

“We expect to report back to the scientific community and the market with further details on our data reviews and corporate strategy early in 2015.”

The drug development company’s financial position includes $8.9 million in cash and a $6.5 million research and tax development tax incentive to be received next month.

ACL is trading at $0.098 per share.


Latest News

VIDEO INTERVIEW: TAKING ON THE TELCO GIANTS AND HOW TO COMPETE AGAINST HEAVYWEIGHTS LIKE TELSTRA

THEY'RE one of only four licenced mobile carriers in Australia, and Pivotel Group is taking on the likes of te...

COMMUNITY LAWYERS ON FUNDING CRISIS: BUDGET WAS A DECENT START, BUT MORE NEEDS TO BE DONE

While the Federal Budget may have reversed its initial plans to cut funding from community legal services nationwi...

DREAMWORLD UNDER 'REVIEW' BY OWNERS ARDENT LEISURE AS ACTIVIST INVESTORS PUSH FOR BOARD POSITIONS

DREAMWORLD owner Ardent Leisure (ASX: AAD) is considering the future of the theme park which may be redeveloped or so...

MAKE WAY FOR THE 'PANTSCRAPER', A TWIN TOWER SET TO CHANGE MELBOURNE'S CITYSCAPE

MELBOURNE'S skyline is about to transform following the construction of a $1 billion luxury high-rise in the city...

Related News

COMMUNITY LAWYERS ON FUNDING CRISIS: BUDGET WAS A DECENT START, BUT MORE NEEDS TO BE DONE

While the Federal Budget may have reversed its initial plans to cut funding from community legal services nationwi...

REGIONAL BANKS HIT OUT AT RATING CUT AND WARN BIG FOUR WILL BENEFIT

REGIONAL banks have hit out at a downgrade on their credit ratings, warning that it will increase their wholesale fun...

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter