VERNALIS - time to buy?

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fickena - Tue, 20 Dec 05 :

LONDON (AFX) - British drug maker Vernalis PLC said initial results from a
phase III study of its drug for menstrual migraine, Frova, indicate that the
long-term safety profile of the product is in line with previous data from
shorter-term studies.
The full results of the study will be presented at a scientific conference
in due course.
"We now look forward to completion of the ongoing Phase III confirmatory
efficacy trial in the first half of 2006 which, if positive, will be closely
followed by submission to the FDA," chief executive Simon Sturge said in a
statement.
Frova is already on sale in the US as a treatment for migraine headache.
Vernalis shares closed yesterday at 61 pence, valuing the company at 190 mln


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