Acrux shares in pause over menopause drug trial
By Rebecca Urban
May 6, 2006
PHARMACEUTICAL drug developer Acrux could release the results of a phase III clinical trial of its menopause drug as early as Monday.
Acrux shares were placed in a trading halt yesterday after the company revealed it had information that would probably have a material effect on the value of its securities — but which it could not announce immediately.
The Melbourne-based company has licensed its drug, known as Evamist, to US pharmaceutical company Vivus. Results of the clinical trial are believed to be available but cannot be reported until Vivus informs the Nasdaq exchange in the US.
Acrux recently told investors that the trial results were due to be reported before the end of the financial year.
If they are successful, Vivus will submit a market application with the US Food and Drug Administration.
The company has also been subject to speculation that an international company is preparing a takeover offer that would value Acrux shares at $1 each — the same price they listed at in 2004. Acrux shares last closed at 66.5¢
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