Cir­cas­sia shares crum­ble as PhI­II flop blights the sec­tor once again

When Cir­cas­sia Phar­ma­ceu­ti­cals went pub­lic on the Lon­don Stock Ex­change two years ago, rais­ing a whop­ping $300 mil­lion, the British biotech com­mu­ni­ty brimmed with en­thu­si­asm over the prospect of re­vived in­vestor in­ter­est in the sec­tor.

To­day, the biotech’s stock price (LSE: $CIR), and the flag­ging in­vestor in­ter­est that re­mained in a chilly mar­ket, were dealt body blows by Cir­cas­sia’s an­nounce­ment that its cat al­ler­gy pro­gram had gone down to de­feat in a Phase III study.

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