NewzTenax Therapeutics announced negative results on Monday from a late-stage clinical trial evaluating its experimental heart failure treatment. The Phase 3 study, designated as LEVEL, investigated the drug for a specific type of heart failure associated with high blood pressure in the lungs.
Following the announcement of the trial's failure, market reaction was immediate and severe. Shares of the biotech company plunged 84%, falling to $2 during early trading hours.
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