Trimeris, Inc. (Nasdaq: TRMS), a development stage biopharmaceutical company, and Hoffman-La Roche, Inc. announced that a joint study of 115 patients taking Trimeris’ new drug T1249-101 finds there were no treatment related abnormalities and that the drug, still in the early development phase, shows promise.

Surprisingly, shares of TRMS fell 3.8 percent this morning following the news, or about $1.60, and recently traded near $39.80.

By contrast in April, Trimeris announced 24-week results of its flagship product T-20, a drug meant to enhance the effects of existing HIV drugs, and shares of TRMS soared $11.25 in one afternoon.

In a prepared statement Dani Bolognesi, Trimeris’ chief executive officer, says: “This clinical progress in the development of a second fusion inhibitor candidate is encouraging news for treatment-experienced HIV patients, who are in need of new therapies.”

For first quarter 2002 Trimeris revenues remained flat at $326,000 while net losses increased 52 percent to $17.7 million. Shares of TRMS ranged in price from $29.64 to $53.20 during the last 52 weeks. The company’s market capitalization totals $791.1 million.