Drug trial results boost for Minster Pharmaceuticals

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Shares in biotech group Minster Pharmaceuticals closed up 80 per cent at 11.25p yesterday after Tonabersat, a migraine treatment, passed a second phase clinical trial in Denmark increasing the possibility of the group being allowed to sell the drug.

The results of the trial showed that the incidents of aura attacks - those migraines preceded by flashing lights - dropped by 68 per cent when patients used Tonabersat. Minster's share price had fallen by more than 86 per cent before yesterday's announcement, largely on fears that a number of biotech firms are likely to run out of cash in the next year. Minster has £8m in cash on its balance sheet.