Intercell and U.S. drugmaker Merck are going to discontinue a major trial of a key vaccine that Intercell designed to protect against serious hospital infections, Merck said on Wednesday.
According to CNBC News, the decision is the latest blow to Intercell, which has faced several setbacks recently. Its stock has lost more than half of its value so far this year.
The study of V710 was in Phase II/III when the decision to end came. It was made after experts assessed the vaccine's benefits against its risks.
"This is a significant setback for Intercell, and was the most eagerly anticipated stock catalyst, with V710 seen as potential validation of the company's technology," analysts at Jefferies said in a note.
The V710 vaccine had been estimated to have sales of more than 1 billion euros ($1.47 billion).
Analysts see considerable potential for a vaccine like V710, which could be used in elective surgery, or even more broadly on hospital admission or in care homes for the elderly, so there may still be hope for Intercell's recovery.
According to CNBC News, the decision is the latest blow to Intercell, which has faced several setbacks recently. Its stock has lost more than half of its value so far this year.
The study of V710 was in Phase II/III when the decision to end came. It was made after experts assessed the vaccine's benefits against its risks.
"This is a significant setback for Intercell, and was the most eagerly anticipated stock catalyst, with V710 seen as potential validation of the company's technology," analysts at Jefferies said in a note.
The V710 vaccine had been estimated to have sales of more than 1 billion euros ($1.47 billion).
Analysts see considerable potential for a vaccine like V710, which could be used in elective surgery, or even more broadly on hospital admission or in care homes for the elderly, so there may still be hope for Intercell's recovery.
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