Clinical-stage biotechnology company Oncothyreon Inc. said Tuesday its partner Merck Serono temporarily suspended all clinical trials of the drug candidate Stimuvax because of potential safety issues.
Stimuvax is Oncothyreon's lead drug candidate and the company does not have a product on the market. Merck Serono is part of Germany-based Merck KGaA.
Shares of Oncothyreon fell $1.37, or 29 percent, to $3.41 in afternoon trading. Shares have traded between $1.18 and $7.77 over the last 52 weeks.
The company said the suspension was a result of a "suspected unexpected serious adverse reaction" in a multiple myeloma patient. Specifically, …
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