Scios Shares Down on Kidney Drug Results

Mountain View-based Scios Inc. said its kidney failure drug Auriculin wasn’t effective in a late-stage clinical test, sending its shares down 30%. Scios shares fell $2 to $4.688 in Nasdaq trading of 2.19 million, almost 10 times the three-month daily average. It’s the second setback for the drug. In a 1995 test, Scios said Auriculin was effective in fewer patients than expected. Chairman and Chief Executive Richard Casey said the probability the company and partner San Francisco-based Genentech Inc. will continue developing Auriculin is very low. The firms had hoped the latest trial could lead to approval of the drug as a replacement for dialysis. The study would have been the last step before Scios could seek Food and Drug Administration approval.