France's Ipsen looks to put 2019 behind it

In early morning trading on Thursday, shares in Paris-based drugmaker Ipsen (Euronext: IPN) slumped nearly 6% following a results statement showing revenues of 2.57 billion euros ($2.8 billion) for full-year 2019, a little under the Financial Times' consensus estimate.

Following international financial reporting standards (IFRS), the firm posted a loss per share of 0.61 euros, mainly due to an impairment charge of around 670 million euros on the intangible assets of palovarotene.

During the year, a futility analysis found that a Phase III trial of the RARγ-selective agonist was unlikely to meet its primary endpoint, resulting in it being dropped.