30/05/2008
The UK and Hungarian authorities have given Ark Therapeutics approval for a Pilot Phase III trial of its Vitor product.
The fully listed company, which develops gene-based treatments for vascular diseases and cancers, says it has received ‘Clinical Trials and Centralised Ethics Committee’ approvals in both countries to begin the trial with Vitor, which is designed to treat cachexia, an involuntary muscle wasting associated with cancer. Ark has already obtained Fast Track Status for Vitor from the US Food & Drugs Administration and says it expects to enter full Phase III development next year after completing this pilot trial.
Ark shares, which fell from 152p to 63.75p between February 2007 and last month, have now rallied to 91p, up 0.5p this morning. That gives the company a stock market value of £187 million.
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