Issue Date: November 14, 2011
Nabi Explores Options After Vaccine Failure
Nabi Biopharmaceuticals has hired an investment bank to help it explore alternatives such as an alliance, recapitalization, liquidation, sale, or merger. At the same time, the company will continue to reduce its operating expenses. The moves come after its NicVAX antismoking vaccine failed to perform better than a placebo in a second late-stage clinical trial. Nabi was disappointed, but not surprised, according to CEO Raafat Fahim. “This Phase III trial was a mirror image of the first trial in terms of design and protocol so it is logical to get similar results from the two trials,” he says.
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