As a small Bio Tech company, they may only get one chance to make it as this story tells...and the creditors will soon be a the doors...the San Diego company announced that its trials for a non Hodgkin's Lymphoma treatment failed to work...BD
It's tough to see all of your company's work go down the drain, but it's great for your competitors. Now that Favrille and Genitope are virtually defunct, that leaves only a few firms left in the running.
"We are clearly very disappointed with the data from this trial, particularly on behalf of the patients and their families," said John P. Longenecker, chief executive of Favrille. "Based on these results, we are discontinuing development of Specifid and are currently evaluating steps to conserve cash and recognize value on our assets. We wish to thank all of our employees and the patients, clinical investigators and trial coordinators for their support and dedication."