Scrip is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Resverlogix value decimated by RVX-208 failure

This article was originally published in Scrip

Executive Summary

Resverlogix lost nearly all of its value on 27 June when its stock sank 92.6% from $2.99 to $0.22 per share – dropping its market cap from $221.9 million to $16.4 million in one and a half hours of trading – after the Canadian company disclosed the failure of its lead cardiovascular drug candidate and only clinical asset RVX-208 in the Phase IIb ASSURE study.

You may also be interested in...



Finance Watch: Tetraphase Reorganization Follows Troubled Antibiotic Commercialization Path

Tetraphase's plan to downsize may put the company on the same path as now-bankrupt Achaogen. Also, Bain raises $900m for its second life science fund, Provention calls off post-ADA offering and Oncologie raises $80m series B.

Biogen’s Tau Antibody Fails In PSP, But Alzheimer’s Studies Continue

Development of gosuranemab in tauopathies will end after a Phase II progressive supranuclear palsy trial failure, but a Phase II Alzheimer’s study of the drug licensed from BMS is ongoing. 

Finance Watch: IPOs Are In A Slump, But Already Public Companies Have Rallied

Public Company Edition: The last biopharma initial public offering in the US was on 11 November, but follow-on and other offerings are generating hundreds of millions of dollars. Among RNA drug developers, Ionis issued more than $500m in new debt, while Arrowhead raised $266.8m. 

Topics

Related Companies

UsernamePublicRestriction

Register

SC021883

Ask The Analyst

Please Note: Click here for more information on the Ask the Analyst service.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel