Regado halts pivotal lead drug trial, pipeline in jeopardy

[riky]

Regado halts pivotal lead drug trial, pipeline in jeopardy

Regado Biosciences Inc lost more than half its market value on Monday after saying it terminated enrollment in a late-stage trial of its lead drug over safety concerns, creating uncertainty over the company's strategy and outlook. The ingredients comprising the lead drug, Revolixys or REG1, are also present in Regado's second experimental drug, REG2. "Given the safety issues associated with REG1, we are uncertain if REG2 will move forward in the clinic," Deutsche Bank analyst Robyn Karnauskas said, slashing her price target on the stock to $2 from $14. Regado's shares had plummeted early July, after it was revealed that a data safety monitoring board (DSMB) had initiated an unplanned review of the Revolixys trial.

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