Avexa shares tank on scrapped HIV program

Shares of Australia's Avexa tumbled 78 percent on the news that the company is scrapping the HIV drug program it spent five years and $90 million developing. Avexa had hoped to secure a licensing deal for the drug; however, the company was unable to find a partner after a two-year search. Potential partners were concerned about the time and money necessary to gain approval of ATC in major markets and potential difficulties of combining the drug with existing HIV therapies, among...