OBI Pharma shares fall by daily limit

‘FLAWED STUDY’:Chairman Michael Chang voiced confidence in the firm’s breast cancer drug and said there were flaws in the methodology for the clinical trial study

Taipei Times
Date: Feb 23, 2016
By: Ted Chen / Staff reporter

Shares of OBI Pharma Inc (台灣浩鼎) yesterday fell by the maximum daily limit of 10 percent to close at NT$613, after the company on Sunday released discouraging results on the second and third-phase clinical trials of a new breast cancer drug, OBI-822.

OBI-822 remains an effective treatment option and the trial’s less promising than expected outcome stemmed from a number of factors, OBI Pharma chairman Michael Chang (張念慈) told an investors’ conference yesterday.

The drug is designed to target Globo H, an oligosaccharide tumor antigen, by triggering the human body’s immune system to generate antibodies that activate cytotoxic T cells to destroy cancer cells, and more than 80 percent of     [FULL  STORY]

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