Shares of Icagen plunged more than 30 percent in premarket trading after researchers announced they were halting a late-stage trial of an experimental therapy for sickle cell anemia because it was unlikely to prove successful. Icagen concluded that the data on senicapoc did not show a significant benefit over a placebo. The company said it was considering its options on the drug. Many investors weren't waiting to find out which way the company will go next on senicapoc. As analysts were downgrading the stock, shares fell 58 cents to $1.84.
- here's the AP report [1] on the trial
Links:
[1] http://www.forbes.com/feeds/ap/2007/04/04/ap3582059.html