Ipsen loses a quarter of value based on pause of palovarotene trials
Shares in Ipsen (Euronext: IPN) have lost almost half of their value in the last 12 months, after another disastrous day for the French drugmaker on Friday.
Ipsen looked set to close around 24% down for the day, with the latest slide in shares caused by the announcement that the company had decided to pause dosing patients in studies of palovarotene.
The company has paused the global Phase III trial designed to evaluate the efficacy and safety of palovarotene in patients with fibrodysplasia ossificans progressiva (FOP), as well as the ongoing Phase II extension studies.
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