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Can-Fite plummets as novel compound disappoints once again

This article was originally published in Scrip

Executive Summary

The Israeli company Can-Fite BioPharma's Phase II/III trial of its lead product CF101 has failed to meet its primary endpoint in moderate-to-severe plaque psoriasis. This was the second major failure for the product, a first-in-class A3 adenosine receptor agonist, after disappointment in a Phase III trial in dry eye syndrome at the end of 2013, and shares in the firm on the New York Stock Exchange dropped by 60% to close at $2.20 on 30 March.

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