Mast’s sickle cell drug flunks PhIII, eclipsing shares
Turn out the lights, the party is over at Mast Therapeutics. The San Diego-based biotech, a penny stock microcap, announced after the market closed on Tuesday that its Phase III study of an experimental drug for sickle cell disease flopped, unable to differentiate itself from a sugar pill.
Mast’s already battered shares $MSTX dropped 76%, to 13 cents a share, on the news.
There’s some analysis of the data left to do on vepoloxamer, but the company say’s it is ready to wash its hands of the drug. Then it can examine its remaining options.
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