Biota's flu drug fails mid-stage study

(Reuters) - Biota Pharmaceuticals Inc said its experimental influenza drug failed to meet the main goal in a mid-stage study. Patients given a 40 milligram (mg) or 80 mg dose did not achieve a statistically significant reduction, compared with the placebo, in the median time to alleviate influenza symptoms - the main goal of the trial, Biota said. The U.S. Department of Health and Human Services in April pulled out of a contract to support the drug's development with $231 million, after which the company said it would stop work on the drug. Biota said in June it would cut its workforce by about two-thirds and shut a facility in Melbourne, Australia following the loss of the contract.



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