XOMA Phase III gevokizumab trial likely to miss endpoint, says Summer Street Summer Street believes Xoma's Phase III trial for gevokizumab will likely not meet the primary endpoint of being effective in treating eye involvement in patients with BehÁetís disease. The firm says prior clinical trials indicate that the product is only a weak anti-inflammatory agent.
XOMA raises $40M in a registered direct offering XOMA (XOMA), announced today the pricing of 8,097,165 shares of its common stock and accompanying warrants to purchase one share of common stock for each share purchased at a price to the public of $4.94. The warrants are exercisable at an exercise price of $7.90 per share beginning on the date of issuance and will expire on the second anniversary of the date of issuance. Cowen and Company is acting as the sole placement agent.