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GTx (NASDAQ:GTXI) stock plummeted on Monday after the biotech company said that a pair of Phase III studies of a muscle drug for cancer patients had failed, FierceBiotech reported.
GTx (NASDAQ:GTXI) stock plummeted on Monday after the biotech company said that a pair of Phase III studies of a muscle drug for cancer patients had failed, FierceBiotech reported.
As quoted in the market news:
The idea behind this study was that stronger patients suffering from non-small cell lung cancer (NSCLC) would live longer. Investors, though, weren’t in any mood to accept the company’s bullish interpretation of failure. GTx’s share price immediately plunged close to 70%.
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