UPDATE 1-Resverlogix halts trial to modify enrollment process

* Trial testing drug to treat thickening of artery walls

* Says completes dosing in drug’s other mid-stage trial

* Shares fall 7 pct

May 12 (BestGrowthStock) – Canadian biotechnology company
Resverlogix Corp (RVX.TO: ) said it temporarily halted a
mid-stage trial of its experimental drug to treat thickening of
arterial walls, to modify its enrollment procedure, sending its
shares down as much as 7 percent.

“We believe that we can enhance the enrollment procedure by
modifying the inclusion criteria,” Chief Executive Donald
McCaffrey said in a statement.

The drug RVX-208 is being studied to treat
atherosclerosis, a disease where plaque builds up inside the
arteries, which could lead to a heart attack.

Currently, the criteria for the Assure trial requires the
patient to have had a heart attack within the past four weeks.
The patient is then required to voluntarily submit to having
two invasive intravascular ultrasound both at the start and
finish of the 90 day drug treatment period.

The company also said it completed the dosing of the drug’s
other mid-stage trial, Assert, five months ahead of schedule
without any alterations to the dose levels of the three drug
receiving cohorts.

“Since the Assert trial provides us with data much faster
than first anticipated, we can also now apply pertinent
findings to the Assure trial,” McCaffrey said.

Shares of the company were down 6 percent at C$5.95 during
afternoon trade on the Toronto Stock Exchange. They touched a
low of C$5.89 earlier in the session.

Stock Market Report

(Reporting by Isheeta Sanghi in Bangalore; Editing by Aradhana
Aravindan) (([email protected]; within U.S. +1
646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPDATE 1-Resverlogix halts trial to modify enrollment process