Shares of Raptor Pharmaceutical Corp.plummeted more than 28 percent Monday despite the Novato company reporting that its treatment for a rare metabolic disorder was as effective in a late-stage clinical trial as a currently marketed treatment.
Raptor (NASDAQ: RPTP) is betting that its drug, called Cysteamine or RP-103, is at least as effective as Mylan Laboratories Inc.’s (NASDAQ: MYN) Cystagon for the rare and potentially fatal genetic disease nephropathic cystinosis.
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