Biotech awaits results

Drug maker Pharmaxis is sweating on the results of a clinical trial of cystic fibrosis drug Bronchitol. The biotech placed its shares in a trading halt on Monday before the results of the phase III trial, expected this week. The move was just two months after the drug was rejected by the main US regulatory body, which sent Pharmaxis shares into a tailspin.

Drug maker Pharmaxis is sweating on the results of a clinical trial of cystic fibrosis drug Bronchitol. The biotech placed its shares in a trading halt on Monday before the results of the phase III trial, expected this week. The move was just two months after the drug was rejected by the main US regulatory body, which sent Pharmaxis shares into a tailspin.

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