Allergy rolls into the rough
Hay fever sufferers were dealt a blow yesterday after an unstable golfer triggered a halt to trials into what had promised to be the world’s first four-in-one vaccine to help summer snifflers and sneezers.
The US Food and Drug Administration suspended trials of Allergy Therapeutics’ Pollinex Quatro vaccine after a patient reported “a rare adverse event”. Allergy slumped 22 per cent, off 26p to 93p, despite the company insisting that evidence made it “unlikely” that the event was caused by Pollinex Quattro.
The event in question, according to Gary Waanders, a Nomura code analyst, was a trial subject in his late 40s who could not complete a round of golf due to instability. The problem occurred about three weeks after his last dose of Pollinex Quatro. The trials focus on the vaccine’s grass and ragweed allergy treatments. The ragweed trial in final stage-III is affected but stage-II trials for grass allergy continue.
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The bets are coming off that White Nile, the oil exploration company run by former England cricketer Phil Edmonds, will hold on to to its rights to look for oil in Southern Sudan. White Nile shares fell 11p to 74p, a 20-month low. The stock has fallen 31 per cent since Friday, when the company revealed that it had been made aware that Sudan’s National Petroleum Commission had asked for the removal of White Nile from the country’s vast Block B area. White Nile insists that it has the support of the government of southern Sudan to continue exploring in the region.
Melrose Resources rose 29¾p to 360p after it announced a positive drilling update from its prospects in Egypt.