A battered Zafgen seeks strategic options, prophesying ongoing study will unlikely lift FDA hold on diabetes drug
Zafgen, which back in 2015 crossed the $50 mark, is now firmly in penny stock territory. Blighted by safety concerns across a range of its experimental drugs, the Boston drug developer is now seeking strategic options, including a possible sale — predicting data from the ongoing in vivo study for its diabetes drug will not be enough to convince the FDA to lift its clinical hold on the program.
The company’s shares $ZFGN tumbled more than 15% to 69 cents in early Thursday trading.
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