Progenics gains on OIC data
Progenics (NASDAQ:PGNX) rose $1.29 (10%) to $14.47 on Thursday after it and partner Wyeth (NYSE:WYE) reported preliminary results from a Phase II trial of oral Relistor methylnaltrexone to treat opioid-induced constipation (OIC). In the double-blind, placebo-controlled study in 122 OIC patients with chronic, non-malignant pain, oral Relistor administered once daily for four weeks significantly increased spontaneous bowel movements.
The partners also announced that preliminary data showed the IV formulation of the peripheral mu opioid receptor antagonist missed the primary endpoint of a significant reduction in the time to first bowel movement vs. placebo in a second Phase III trial to treat postoperative ileus (POI). The compound also missed the secondary endpoints of the double-blind, international study in about 500 patients, including time to discharge eligibility. The companies said the data confirm the findings from the first Phase III trial, which were announced in March (See BioCentury Extra, Wednesday, March 12, 2008). ...