Capri­cor shares blast­ed as PhII heart study fails; Sanofi to de­stroy un­used fa­cil­i­ty in France

→ Af­ter look­ing over dis­ap­point­ing in­ter­im re­sults from its Phase II study of CAP-1002 for im­prov­ing out­comes for heart at­tack pa­tients, Capri­cor $CAPR is throw­ing in the tow­el and re­fo­cus­ing on Duchenne mus­cu­lar dy­s­tro­phy. The biotech — which de­vel­ops cell ther­a­pies — says it plans to cut staff in or­der to con­serve cash. Its stock was evis­cer­at­ed, drop­ping 59% on the news.

Sanofi spent $126 mil­lion build­ing a pi­lot plant at its Mont­pel­li­er R&D cam­pus in France. But while the com­pa­ny fo­cused on a frus­trat­ing ef­fort to re­duce staff in France, it nev­er opened the fa­cil­i­ty. And now it plans to bull­doze it, cit­ing a chang­ing port­fo­lio, ac­cord­ing to a re­port by in-Phar­ma Tech­nol­o­gist.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.