Trimeris Inc. (NASDAQ:TRMS) is feeling a little after-hour pressure. Roche and Trimeris today provided an update on their combined efforts to offer a needle-free device which has been investigated for use with FUZEON® (enfuvirtide).
Based on comprehensive assessment of the clinical program, as well a significant delay in achieving U.S. regulatory approval due to the time required to generate additional data, Roche and Trimeris are withdrawing a supplemental application for approval to market the Biojector® 2000 device.
This device is known as “B2000” and is manufactured by Bioject Medical Technologies, Inc. (NASDAQ:BJCT) for use with FUZEON. Importantly, Roche and Trimeris believe that patients who are currently administering FUZEON with the device through an existing program or clinical trial may continue to do so, provided that the precautions in the current FUZEON label regarding use with B2000 are followed. Roche and Trimeris noted that they recognize that B2000 is commercially available for general use.
There is no activity seen in BJCT shares. Trimeris (TRMS) originally saw a 10% drop in after-hours, but now shares are are down only about 4% at $7.82. Shares were up almost 4% in regualar trading to close at $8.21 today. Trimeris has a $182 million market cap and it is actually profitable. This may be a negative headline, but it has other oars in the water. Over the last year shares have traded as as low as $5.34 and as high as $13.85.
Jon C. Ogg
October 3, 2007