Medicines Co. shares drop as early drug trial results not promising
Medicines Co. shares dropped in the extended session Tuesday after the biotech company said an ongoing study of a drug meant to remove bad cholesterol from the walls of blood vessels has yet to show effectiveness. Medicines Co. shares fell 10% to $36.05 after hours. The company said an interim analysis of 40 patients treated with the drug MDCO-216 did not meet the "pre-defined, upper statistical boundary for efficacy." The company said it has enrolled 120 patients in the study and will continue and results will be presented in November.
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