BioCentury
ARTICLE | Finance

Ebb & Flow

April 22, 2002 7:00 AM UTC

Investors cleaning the mud off their boots from biotech's first quarter disasters breathed a sigh of relief after Trimeris delivered on one of the key milestones in the second quarter. TRMS announced Thursday that its T-20 HIV fusion inhibitor in combination with antiretroviral therapy gave a significantly greater reduction in HIV levels (the primary endpoint) than antiretroviral therapy alone (p<0.0001) after 24 weeks in a Phase III trial (see "Product Development," A6).

TRMS was rewarded by gaining $207 million in value on the week. The shares closed the week up $11.05 (28%) to $50.55 after popping $11.25 to $50.50 on 9.5 million shares on Thursday's news. Its market cap now stands at $945.3 million...