Shares of OrthoLogic were hit hard yesterday after the small drug developer announced that its Phase III trial of Chrysalin as a treatment for unstable displaced wrist fractures flunked its primary endpoint and hit only one of its secondary endpoints. Analysts noted that Chrysalin was OrthoLogic's only late-stage therapy, but added that the company has a significant amount of cash on its books.
- here's The Motley Fool's take on the results