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Report for: EBIO
Eleven Biotherapeutics, a Cambridge biotech that most investors abandoned after back-to-back late-stage trials failures, is showing signs of life.
Waltham-based Interleukin Genetics, a small company traded in over-the-counter markets under the symbol “ILIU,” this morning announced that it presented new data from post hoc analyses (an analysis done after a trial has been completed as opposed to a predifined analysis) on the relationship between its IL-1 genetic patterns and patients whop responded to Evelen’s drug, isunakinra (also called EBI-005) in severe allergic conjunctivitis and severe dry eye study subjects. The poster presentations are at the Annual Meeting of the Association for Research in Vision and Ophthalmology in Seattle, Washington.
Investors who are buying Eleven’s shares today are banking that with the help of Interleukin Genetics tests, Eleven may be able to seek approval of its drug (an eyedrop) in certain patients despite that fact that it failed to show a statistically-significant effect in treating those with dry eye disease last May, and patients with severe eye allergies earlier this year.
Those two trial failures resulted in the 20-employee company losing 97 of its stock value last month, trading with a market cap of between $5 million and $10 million in recent months. Today’s news brings the company’s stock back up to $1.43 as of 11 a.m., giving it a market cap of $28 million.
Source – W. MARC BERNSAU | BOSTON BUSINESS JOURNAL
Broad street alerts has not been compensated for the mention of any publicly traded companies in this article nor do we own positions in any of the companies in this article.
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