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Regado shares plunge on clinical trial concerns

July 3, 2014

NEW YORK (AP) Shares of Regado Biosciences plunged Thursday after the company said it will halt a study of its experimental heart drug so researchers can review safety and effectiveness data.

The company said a committee of independent monitors will review the treatment. They will focus on serious side effects related to allergic reactions. Regado is pausing enrollment of patients during the review. Regado said the monitors will complete their review and make recommendations within eight weeks.

Shares of Regado Biosciences Inc. dropped $3.83, or 56.7 percent, to $2.92 in midday trading. Earlier the stock hit an all-time low of $2.84.

The Basking Ridge, New Jersey, company is developing a treatment regimen called the Revolixys Kit. Revolixys is designed to be used during heart surgeries like bypass operations and angioplasties. Those procedures are used to improve blood flow to the heart and clear dangerous plaque from the arteries, and patients face risks of bleeding and clotting complications when treated with current drugs.

Regado says Revolixys will give surgeons more control, as it contains an anti-clotting drug and a second ingredient that helps physicians regulate the anti-clotting drug.

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Source: Associated Press

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