Sign in Subscribe
Pharmaceutical industry

Cambridge Antibody Technology Reports Financial Results and Business Update

Strategic Insights

— 1 min read

Cambridge Antibody Technology (CATG) announced its financial results for the nine months ended June 30, 2004, and provided an update on its clinical pipeline. The company highlighted several key developments, including the completion of a U.S. clinical trial for its lead proprietary product, Trabio, and the receipt of regulatory approval to commence a phase I clinical trial for CAT-354. Additionally, Wyeth's progress on licensed product MYO-029, and Abbott's increased sales expectations for Humira, were also mentioned.

Key Takeaways:

  • CAT completed enrollment of 236 patients in the U.S. clinical trial of Trabio, a human anti-TGFalpha2 monoclonal antibody for glaucoma filtration surgery.
  • Regulatory approval was received to commence a phase I clinical trial for CAT-354, a human anti-IL13 monoclonal antibody for severe asthma.
  • Wyeth is progressing MYO-029, a licensed product from CAT, into a phase I clinical trial.
  • Abbott increased sales expectations for Humira to more than $800 million and announced the approval of an expanded indication for the treatment of rheumatoid arthritis.
  • HGSI completed enrollment in its phase II clinical trials for LymphoStat-B, a human monoclonal antibody for rheumatoid arthritis and systemic lupus erythematosus.
  • HGSI presented interim results of phase I clinical trials for HGS-ETR1, a human monoclonal antibody for advanced solid tumors or non-Hodgkin lymphoma.
  • CAT commenced legal proceedings against Abbott Biotechnology Limited and Abbott GmbH in the High Court in London over royalties due for Humira.

Statistics:

  • 236 patients were enrolled in the U.S. clinical trial of Trabio.
  • 393 patients were enrolled in the phase III International clinical trial of Trabio.
  • $351 million in sales were achieved by Abbott for Humira in the first half of 2004.
  • Over $800 million in sales are forecasted by Abbott for Humira in 2004.
  • 51 countries have approved Humira for the treatment of rheumatoid arthritis.

Sources:

  • Cambridge Antibody Technology (CATG) press release, 2004 OCT 4
  • Health & Medicine Week, 2004
  • NewsRx.com & NewsRx.net
  • Abbott Laboratories press release
  • Human Genome Sciences, Inc. (HGSI) press release
  • American Academy of Dermatology (AAD) press release
  • European League Against Rheumatism (EULAR) press release

Read more