Shares of Icagen slipped this morning after a J&J subsidiary announced it was canceling a pact to develop a new therapy for sickle cell disease. The announcement terminates the pharma giant's commitment to paying up to $48 million in milestones for the successful development of senicapoc. But it couldn't have been a big surprise to investors. Clinical trials of the therapy ended last April when it proved ineffective in halting the pain spurred by the disease.
- check out the release
- here's the report from TechJournal South