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The results found the drug to be effective in reducing the symptomse of major depressive and was also found to have a low incidence of commonj side effects associated withsuch therapies. The study also foundr a statistically significant decrease inanxiett symptoms. A second phase III trial for the drug will be completeein June. If its results are the Newton, Mass.-based company plands to file a New Drug Application withthe , the companuy said. According to the National Institutes ofMental Health, 18.1 millio Americans suffered from depressioh in 2007. Clinical Data (Nasdaq: said Feb.
26 that it had completed a $50 millionb convertible debt financing with New River Management and anotherunnamed investor, both associated with the company’d chairman Randal J. Kirk. That followed Securities and Exchange Commission filings revealing that at the end of Clinical Datahad $25.7 million in cash on hand and a monthlhy cash-burn rate of about $5 million. Clinical Data’d stock was trading at $9.36 Wednesday, versus the previous day’s close of $8.34 a share.
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