AEGiS-Reuters: Tanox's HIV drug gets FDA "fast track" status

Important note: Information in this article was accurate in 2003. The state of the art may have changed since the publication date.

Tanox's HIV drug gets FDA "fast track" status

Reuters NewMedia - Thursday October 09, 2003

NEW YORK, Oct 9 (Reuters) - Tanox Inc. TNOX.O said on Thursday that the U.S. Food and Drug Administration will review its experimental HIV drug on an accelerated basis. The company's shares jumped nearly 9 percent.

Tanox, said its new drug is designed to treat HIV that has become resistant to standard antiretroviral therapies. The FDA will give it "fast track" status, reviewing data from the company's clinical trials as it becomes available, instead of waiting until trials have been completed.

Fast track status is given to promising drugs that are designed to treat unmet medical needs.

The drug, known as TNX-355, is one of a new class of drugs called viral entry inhibitors.

Shares of Tanox, based in Houston, jumped $1.58, or 8.8 percent, to $19.62 on Nasdaq.

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