On the heels of pocketing $30M from Alexion, Stealth Bio says its PhIII was a flop
Two months ago, the BD team at Alexion paid $30 million to buy themselves a front-row seat to Stealth BioTherapeutics’ Phase III on elamipretide, a potential first-in-class drug for mitochondrial disease.
But that potential — along with the shares Alexion bought in the deal — have now been badly damaged.
Stealth revealed Friday morning that the Phase III was a flop, and its shares $MITO cratered, dropping 57% ahead of the bell.
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