Saturday, October 16, 2010

Clinical Data soars on positive drug trial - Washington Business Journal:

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The results found the drug to be effective in reducingv the symptoms of majoedepressive disorder, and was also found to have a low incidences of common side effects associated with such The study also found a statistically significant decreasd in anxiety symptoms. A second phase III trial for the drug will be completed in June. If its resultw are positive, the Mass.-based company plans to file a New Drug Application withthe , the company According to the Nationa l Institutes of Mental Health, 18.1 million Americansd suffered from depression in 2007. Clinical Data CLDA) said Feb.
26 that it had completedc a $50 million convertible debt financing with New River Management and anothereunnamed investor, both associatedx with the company’s chairman Randal J. Kirk. That followed Securitiezs and Exchange Commission filingss revealing that at the endof 2008, Clinical Data had $25.7 million in cash on hand and a monthly cash-burb rate of about $5 million. Clinicalp Data’s stock was trading at $9.36 versus the previous day’s close of $8.
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