NicOx/AstraZeneca: Transparency vs. Partnering

AstraZeneca's news that nitric oxide donator AZD 3582 had failed to reach a primary end-point in a Phase II trial sent originator NicOx's shares plummeting, as investors lost faith in the biotech's entire platform. NicOx is disputing the data's accuracy in an attempt to salvage investor confidence--and to survive. The events highlight the tension between Big Pharma's duties to investor transparency and to protect its biotech partners. They're also a reminder to biotechs that there's more to deals than just royalties.