TechMARK movers: Antisoma plunges after trial halted

29th Mar 2010 15:11

Shares in cancer drug developer Antisoma have fallen by more than two-thirds following news that Novartis has halted a Phase III trial for lung cancer treatment ASA404. There is concern about the continued support of Novartis.An initial assessment of the data showed that there was not going to be a positive result to the trial. The Phase II trial had shown very positive results so this is a shock. A second trial will continue to the interim stage in late 2010 but is there are no positive expectations for this trial either. There is £45.1m in the bank which should last until late 2011. Secondary acute myeloid leukaemia treatment AS1413 is the main hope for Antisoma. Results from a Phase III trial are due later this year. Antisoma is looking for a major partner for this drug. KBC Peel Hunt believes the company is a potential bid target. Educational services and technology provider RM has been appointed preferred bidder for a contract to provide broadband services to schools in south west England. The contract with the South West Grid for Learning Trust is worth more than £10m over eight years. FTSE TechMARK - RisersCorin Group (CRG) 62.50p +3.31%Vodafone Group (VOD) 150.25p +2.42%Phytopharm (PYM) 11.25p +2.27%Innovation Group (TIG) 12.25p +2.08%Skyepharma (SKP) 49.00p +2.08%Oxford Instruments (OXIG) 274.50p +2.04%Biocompatibles International (BII) 239.00p +1.92%Phoenix IT Group (PNX) 269.75p +1.60%SDL International (SDL) 486.80p +1.42%RM Group (RM.) 173.75p +1.31%FTSE TechMARK - FallersAntisoma (ASM) 9.50p -70.31%AEA Technology (AAT) 19.00p -7.32%Ark Therapeutics (AKT) 11.25p -4.26%COLT Telecom Group S.A. (COLT) 126.90p -4.01%Filtronic (FTC) 32.25p -3.01%E2V Technologies (E2V) 38.00p -2.56%Psion (PON) 85.50p -2.01%Renovo Group (RNVO) 25.00p -1.96%Kofax (KFX) 218.00p -1.91%Oxford Biomedica (OXB) 9.70p -1.82%