Icos halts stroke-drug study after late results disappoint

BOTHELL - Drug developer Icos reported a smaller-than-expected first-quarter loss, but said it was halting study of an experimental stroke treatment after disappointing late-stage trial results.

Icos reported a first-quarter loss of $11.9 million, or 26 cents a share, on revenue of $9.8 million, compared with a loss of $7.2 million, or 17 cents, on revenue of $16.1 million in the same 1999 quarter.

Wall Street analysts had expected the company to report a loss of 43 cents a share for the quarter, according to First Call/Thomson Financial.

Icos said interim results of a Phase 3 study of LeukArrest in patients who have had an ischemic stroke failed to meet predefined criteria for success, and it had halted further study.