BioCentury

7:00 AM GMT, Oct 19, 2015
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Finance

Zafgen speaks

The prospects for obesity candidate beloranib are not any clearer, even after Zafgen Inc. broke its week-long virtual silence with a Friday conference call to explain a partial clinical hold to investors. After a week fueled by rumors and speculation, initially triggered by a steep stock decline on no news, Zafgen is down 70% and trading barely above cash.

On Monday, the stock plummeted $12.25 (36%) to $22.15 on heavy volume amid general media reports that Zafgen had pulled out of non-road show investor meetings. As speculation mounted, and with no word from the company, the shares shed an additional $6.40 (29%) to $15.75 on Tuesday, again on heavy volume.

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This article and the information contained in BioCentury's publications and services are solely for your own personal, non-transferable licensed use and cannot be shared with any other individuals. For information about adding subscribers to your account or obtaining article reprints, please contact support@biocentury.com.