Monday, November 5, 2012

Pharmacyclics stock sags on disappointing clinical results

Cancer drug maker Pharmacyclics Inc.’s stock dropped almost 20 percent at one point Monday, after it released disappointing trial data.
Pharmacyclics CEO Robert Duggan and CEO Maky Zanganeh.
Pharmacyclics announced that a group of multiple myeloma patients it was testing its drug on did not experience tumor shrinkage. According to the Associated Press, the company will now try testing it in higher doses and in combination with other drugs.

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