Shares of Bone Ther­a­peu­tics dive on PhI­II cell ther­a­py fail­ure; GSK-backed Sit­ryx inks dis­cov­ery deal

→ Shares of Bone Ther­a­peu­tics took a nasty, 26% hit $BOTHE af­ter re­searchers hit the brakes on a Phase III study of their cell ther­a­py for os­teonecro­sis. The de­ci­sion was made af­ter the in­de­pen­dent mon­i­tor­ing group con­clud­ed that the tri­al was head­ed to a fail­ure. The com­pa­ny says it will now switch fo­cus to an al­lo­gene­ic ap­proach, but many of its in­vestors ap­par­ent­ly aren’t will­ing to wait around for step 2.

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