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Pharmasset hepatitis C drug meets safety goal in study

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April 25, 2008

PRINCETON, N.J.—Pharmasset Inc., a clinical-stage pharmaceutical company, said Friday its hepatitis C drug candidate R7128 met safety goals in an early-stage study.

The study results were presented at the 43rd annual meeting of the European Association for the Study of the Liver in Milan.

The drug was tested in two oral doses in combination with other hepatitis C treatments over the course of four weeks. The company said the drug candidate also prompted short-term antiviral activity in patients.

The study was not designed to test effectiveness as a main goal. Phase I clinical trials are often too small to measure effectiveness with any accuracy and instead focus on safety.

Shares of Pharmasset fell 29 percent, or 2 percent, to $14.21 in afternoon trading. The stock has traded between $7.54 and $36.44 over the last 52 weeks.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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