ImmuPharma collapses on trial failure
Shares in drug discovery company ImmuPharma (IMM:AIM) collapsed on 17 April showing how risky early stage drug development really is.
The company’s lead drug Lupuzor failed to show meaningful statistical benefits over a placebo in Phase III trials. Lupus is an autoimmune disease that affects millions, famously including American singer and actress Selena Gomez.
ImmuPharma’s share price crashed 85% to 22.7p on the news, leaving the firm’s market value at just £32m. (LMJ)