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MCUR - Macrocure News Story

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UPDATE 1-Macrocure's cell therapy for wounds fails late study

Tue 27th October, 2015 10:29pm
(Adds details, CEO quote, share price) 
    Oct 27 (Reuters) - Israeli biotechnology company Macrocure 
Ltd  MCUR.O  said it would "analyze all strategic options" after 
its cell therapy for hard-to-treat wounds failed a late-stage 
U.S. study, pushing its shares down more than 50 percent after 
the bell. 
    Macrocure's CureXcell, already in use in Israel, is a 
formulation of living human white blood cells activated to 
stimulate the healing and closure of wounds from the inside out. 
    Macrocure said on Tuesday that the drug did not meet the 
main goal in patients with diabetic foot ulcers.*:nGNXVESAKa 
    "We will analyze all strategic options for the company and 
continue to focus on managing and conserving our existing cash," 
Chief Executive Nissim Mashiach said in a statement. 
    As of Sept. 30, Macrocure had a preliminary estimated and 
unaudited cash balance of about $30 million and no debt 
    In the late-stage study, CureXcell did not show a 
statistically significant proportion of subjects with complete 
wound closure at 16 weeks and sustained complete closure for 
four more weeks. 
    The results are a second blow in quick succession to 
Macrocure, after an independent data and safety monitoring 
committee said in August that it expects CureXcell to fail a 
late-stage study in patients with venous leg ulcers. 
    The Petach Tikva, Israel-based company's shares were trading 
at $1.95 on the Nasdaq after the bell on Tuesday. 
 (Reporting by Natalie Grover in Bengaluru; Editing by Anil 
D'Silva and Robin Paxton) 
 ((;)(within U.S. +1 646 223 
8780, outside U.S. +91 99 1694 7070)(; Reuters 
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