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Director, Corporate Communications
Panacos Reports Third Quarter 2007 Financial Results
Watertown, MA (October 25, 2007) Panacos Pharmaceuticals, Inc. (NASDAQ: PANC), a biotechnology company dedicated to developing the next generation of antiviral therapeutic products, today announced its financial results for the quarter ended September 30, 2007 and reviewed progress in its development programs.
Recent Business Highlights:
The Company announced preliminary results today from the 300 mg cohort of a Phase 2b dose escalation study of bevirimat (PA-457) in patients failing HIV therapy due to drug resistance. The results from this cohort showed a mean viral reduction of 1.02 log10, with a continuation of predictable and linear pharmacokinetics. The results support further dose escalation to determine the dose or doses of bevirimat to take into pivotal clinical trials in 2008.
Panacos announced that it had completed a Phase 1 study with two distinct liquid formulations of bevirimat suitable for long-term dosing in HIV patients. Both formulations have similar bioavailability to the solution formulation currently being used in the Phase 2b dose escalation study. The Company intends to commercialize both a liquid and a solid version of bevirimat, and continues to evaluate a number of novel solid formulation options with the goal of selecting a formulation candidate to take into human trials in 2008. Preliminary market research indicates that a majority of the HIV-positive adult market would consider a liquid formulation of bevirimat to be an attractive option.
The following information was filed by Panacos Pharmaceuticals, Inc. (PANC) on Thursday, October 25, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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