NABI BIOPHARMA CLOSES EUROPEAN OPERATIONS

Biotech company Nabi Biopharmaceuticals said Monday it closed its European operations to cut expenses, as it assesses the results of late-stage trial of its experimental staph infection vaccine, StaphVax. The company said in November -- after the product's Phase III clinical trial failed to reduce infections in a kidney patient study -- that it was withdrawing its marketing authorization application in Europe. The company said the closing of its operations in Europe is in line with that decision.

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