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Minster Pharmaceuticals

  • BY: Andrew Hore |
  • POSTED: 02/02/2009 |

A 500 patient study for migraine treatment tonabersat has proved a disappointment for Minster Pharmaceuticals.

The shares slumped 13.75p to 10.75p each, which values Minster at £6.33m.

The Phase IIb TEMPUS (Tonabersat Evaluation in Migraine Prevention in the US) did not meet its target of reducing the number of migraines suffered by patients. The compound was proven as safe, which means that there is potential for other treatments, such as epilepsy and neuropathic pain.

There needs to be more analysis of the data before a decision is made on how to proceed.

Minster still has net cash of £7.1m in the bank.

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