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Resverlogix value decimated by RVX-208 failure

 
• By Mandy Jackson

Resverlogix lost nearly all of its value on 27 June when its stock sank 92.6% from $2.99 to $0.22 per share – dropping its market cap from $221.9 million to $16.4 million in one and a half hours of trading – after the Canadian company disclosed the failure of its lead cardiovascular drug candidate and only clinical asset RVX-208 in the Phase IIb ASSURE study.

Resverlogix lost nearly all of its value on 27 June when its stock sank 92.6% from $2.99 to $0.22 per share – dropping its market cap from $221.9 million to $16.4 million in one and a half hours of trading – after the Canadian company disclosed the failure of its lead cardiovascular drug candidate and only clinical asset RVX-208 in the Phase IIb ASSURE study.

Calgary-based Resverlogix also plunged 92.7% on the Toronto Stock Exchange to Can$0.22 after the company said RVX-208 did not meet...

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