Cytos anti-smoking vaccine misses study target
ZURICH, – Cytos Biotechnology’s (CYTN.S) anti-smoking vaccine missed its main target in a mid-stage study, making it highly unlikely the product will reach the market and slamming the Swiss group’s shares.
The start-up drug discovery company was informed by its partner Novartis (NOVN.VX) that the NIC002 vaccine had failed to show a significant difference in abstinence from smoking.
“We see the company’s prospects not only built on shaky scientific ground, as we have discussed it repeatedly over the past years, but also its financial foundation appears very fragile,” said Helvea analyst Olav Zilian.
Cytos also has a partnership deal with Pfizer (PFE.N) but does not yet have a drug on the market and had already suffered one major setback this year after a high blood pressure vaccine failed to meet its target in a mid-stage trial. [ID:nLH230277]
Shares fell 40 percent to 13.75 Swiss francs, extending a two-year losing streak from a high of more than 170 in 2007.
The endpoint of the anti-smoking trial was a statistically significant difference in continuous abstinence from smoking determined from weeks eight to 12 after start of treatment, compared with a placebo.
Cytos — which focuses on so-called immunodrugs, aimed at treating chronic diseases and addictions through vaccination — said in a statement Novartis, which has the rights to the vaccine, is continuing the study and would decide on next steps once the scheduled 12 months duration of the trial is completed.
The drug aims to help smokers kick the habit by preventing nicotine from entering the brain, depriving them of the satisfaction many associate with smoking.
Novartis bought the rights to the Cytos anti-smoking vaccine in 2007 in a deal valued up to 600 million francs ($591.7 million), including an upfront payment of 35 million francs, with further payments contingent on development milestones. (Reporting by Emma Thomasson and Sam Cage; Editing by David Holmes and Hans Peters) ($1=1.014 Swiss Franc)
Octomber 16, 2009 Reuters
