LONDON (ShareCast) - Irish pharmaceutical firm AGI Therapeutics (Dublin: A9I.IR - news) said it has started a review of its business
strategy including alternative commercial applications for its main drug Rezular after it failed a key clinical trial.
In Thursday's AGM statement AGI said it is reviewing Rezular, used for irritable bowel syndrome.
AGI said it is considering undertaking new clinical tests to gain regulatory approval to sell Rezular for other conditions. "Rezular has clinically meaningful activity on gut motility and diarrhoea symptoms," the group said.
Also, based on current estimates, the company said it expects to have cash resources of approximately $12m by end Q2 2009, after provision for the close out costs of ARDIS 1 and 3 and certain restructuring provisions.
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