Discovery Labs hit with fresh setback on PhII Surfaxin failure

Discovery Labs (NASDAQ: DSCO) says preliminary data shows that its troubled lead drug Surfaxin failed a Phase II study. In fact, Surfaxin looked very much like a placebo in a trial that was aimed at demonstrating the lung drug's ability to reduce the amount of time children with acute respiratory failure spend on mechanical ventilation. Its badly mauled shares dropped even deeper into the cellar as a result, with the stock price falling by about a third--dropping 17 cents to 33...

Discovery Labs cites progress on Surfaxin response

Shares of Discovery Laboratories (DSCO) climbed this morning after the developer announced that it had been able to validate a test of the quality and stability of its lung drug Surfaxin. A little more than a year ago the agency rejected Surfaxin as a treatment for an infant respiratory ailment as it questioned its ability to check on the quality changes that could occur over the course of its shelf life. "The successful optimization and revalidation of the BAT represents a key component...