Active Biotech phase 3 study with Laquinimod misses primary endpoint

Active Biotech (STO: ACTI) is plunging on the news that the second pivotal phase III study with Laquinimod for the treatment of relapsed MS called Bravo failed to reach statistical significance in the primary endpoint of annualized relapse rate. With 'standard sensitivity adjustment', laquinimod significantly reduced the annualized relapse rate (p=0.026). On 09.12.2010 the company and partner Teva Pharmaceuticals announced positive initial results from the other pivotal study ALLEGRO.