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Raptor Drug Study Failure Wipes a Third Off Company Value
September 15, 2015.
Raptor Pharmaceutical (Novato, CA) will not continue with development of its liver drug RP103 after it failed to meet the main goal in a second mid-stage study, Reuters reports. The drug's failure in this study has cost more than a third of the company's market value, with shares falling as much as 43 percent to a more than two-year low of $6.83 on Monday. RP103 was being tested in children with nonalcoholic steatohepatitis (NASH). Raptor said however that it plans to continue further development of the drug in genetic disorders such as Huntington's and mitochondrial disease.
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