Sep 17th 2013 - Edison Investment Research today published a report on Transgene entitled "Pexa-Vec: Down But Not Out". In summary, the report says:
The Phase IIb TRAVERSE study has been stopped as Pexa-Vec had no impact on overall survival in patients with second-line hepatocellular carcinoma (HCC). A thorough analysis of all of the data on Pexa-Vec from the TRAVERSE trial and eight other trials is underway to decide on how or whether to develop Pexa-Vec further. This will be reported by the end of the year. In the interim, there should be the first results of TIME study, which could lead to Novartis exercising its option on TG4010. We reduce our valuation by €75m to €405m.
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