Ni­valis shares in melt­down as cys­tic fi­bro­sis promise with­ers in PhII flop

Eigh­teen months ago, lit­tle Ni­valis Ther­a­peu­tics man­aged to catch the tail winds of a long-run­ning biotech IPO mar­ket and ride it to a $77 mil­lion wind­fall on an ear­ly-stage promise that it could do some re­al good for cys­tic fi­bro­sis pa­tients. But late Mon­day, the Boul­der, CO-based com­pa­ny was forced to con­cede that its mid-stage work on its lead drug had failed, leav­ing that $14 IPO price a bit­ter mem­o­ry for in­vestors who watched the share price tank, falling 53% to $2.94.

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Venture & Research Associate

Alexandria Real Estate Equities

San Francisco, CA, USA