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.
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.
