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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