Starpharma enters trading halt ahead of VivaGel trial results
Wednesday, 28 November, 2012
Starpharma (ASX:SPL) has entered a trading halt beginning today ahead of the announcement of trial results from two phase III studies into its lead product, VivaGel, a treatment for bacterial vaginosis.
In May this year the company initiated two concurrent phase III trials across 30 international sites, focusing on the United States.
The trials have been ratified by the US Food and Drug Administration and the European Medicines Agency, with the trials contributing to receiving marketing approval by both agencies.
The trading halt is expected to be lifted once the announcement has been made or by Friday, whichever comes earlier.
VivaGel is a novel formulation to treat bacterial vaginosis, which is the most common vaginal infection worldwide, affecting an estimated one third of the adult female population in the US.
Conventional antibiotic treatments have low cure rates, high rates of recurrence, unpleasant side effects and high bacterial resistance. Previous studies have found VivaGel to have greater efficacy than conventional treatments with lower side effects.
Starpharma estimates that the market for BV treatments is worth around $300-$350 million. VivaGel has applications besides BV. Starpharma is also currently preparing to launch a line of VivaGel coated condoms, in partnership with Ansell and Okamoto.
Starpharma (ASX:SPL) last traded at $1.62.
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