Monday, July 25, 2011

Raptor rare disease trial has good results, but stock drops

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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