Shares of heart-drug developer Valentis (VLTS Quote) sank $2.54, or 77%, to 78 cents after the company halted a trial on its experimental treatment for peripheral arterial disease. Researchers were hoping to show that the drug could improve a patient's tolerance for exercise, but after 90 days, there was no significant difference between those on the drug and those given a placebo.
PAD is a condition in which fatty deposits build up in the inner linings of the artery walls, creating blockages that restrict blood circulation. The disease can increase the risk of a heart attack or stroke.
ImmunoGen (IMGN Quote) said it's licensing some of its technology to German pharmaceuticals and diagnostics company Biotest AG to develop new cancer drugs. ...
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