Thursday, 8 March 2007

Liponex Trials Go Sideways

Investors closely watching the cholesterol space and Neptune's competitors have no doubt heard by now about the day Liponex (TSX: LPX) has had.
Today, the stock dropped 78.45% with 16.5 m shares trading to close at $0.53.

The drug developer reported clinical trial results after the market close yesterday for its main product that were "not statistically significant." The drug was, however, found to be stable and safe. Findings were varied; some patients showed an increase in HDL while others had "negative response".

This loss wiped out most of the company's stock market value of $53 million and reflected just how tumultuous the drug development business can be; typically all or none for investors.
This is a reality that Neptune's investors are not threatened by as it has commercialized products with a variety of applications.
Also of significance - NKO has been through the nail-biting process of clinical trials and has been found to be both safe and effective in its Phase IIIa Study. Not to mention NKO was found to reduce LDL by 34% and increase HDL by 44%.
Liponex's CEO was featured on ROBTV today, saying he remains confident as "We've got a drug with great potential in a hugely attractive market space - that is raising your HDL or good cholesterol. And novel approaches to doing that are a very hot item with pharmaceutical companies today."