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Shares of Massachusetts-Based Cambridge NeuroScience Inc. Plunge 60 Percent.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, June, 1997 by Rosenberg, Ronald
Jun. 25--Shares of Cambridge NeuroScience Inc. plunged 60 percent yesterday, after its corporate partner halted late-stage clinical trials of Cerestat so that the stroke drug's safety can be checked.
The Cambridge company's stock closed at 3 13/16 on the Nasdaq, down 5 11/16 on heavy volume of 4.23 milion shares.
Cerestat, Cambridge NeuroScience's leading product candidate, is a treatment given to stroke patients to prevent further nerve cell death and brain damage by preventing excessive entry of calcium into nerve cells.
The large phase III clinical trial, which began 13 months ago, was suspended after an interim analysis of data from 368 patients enrolled in the study. The evaluation and decision to halt further patient...
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