Phase III trial of the company's lead drug candidate Maxamine
(histamine dihydrochloride) for the treatment of malignant melanoma was completed in March 2000 and demonstrated a significant increase in survival for patients treated with Maxamine
Consistent with the prior year, current quarter operating activities were comprised primarily of the clinical development and other activities associated with the commercialization of the company's lead drug Maxamine.
"Operating expenditures for the first quarter were well within our expectations and reflect the continuation of our efforts to prepare Maxamine for our planned market launch," said Dale A.
The company's lead drug candidate, Maxamine, is currently being tested in three Phase III cancer clinical trials in 12 countries around the world for malignant melanoma and acute myelogenous leukemia.
Phase II trials of Maxamine are also underway for the treatment of hepatitis C patients and advanced renal cell carcinoma patients.
30, 1999, revenue consisting of collaborative support for clinical trials and fees for Maxamine marketing rights totaled $1,077,800 compared to $180,750 recorded in the prior year.
"Our top objective is to expeditiously bring Maxamine to market, and the rapid advancement of our U.S.
"For example, Maxamine's broad potential was further highlighted recently by the report of positive interim results from our Phase II trial in hepatitis C."