Vasogen falls on Celacade Phase III

VSGN dropped $1.87 (44%) to $2.38 on Tuesday after an external safety and efficacy monitoring committee (ESEMC) recommended closing a Phase III trial of Celacade immune modulation therapy to treat peripheral arterial disease (PAD). According to VSGN, the ESEMC said the double-blind, placebo-controlled, North American SIMPADICO trial in 553 patients did not show a sufficient efficacy signal, and that there was a "modest imbalance in the distribution of a small number of malignancy cases." However, VSGN said the trial's steering committee concluded that there was no safety concern. ...