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Zafgen Stock Plummets After Trial Patient’s Death

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Patrick Murray2 years ago

Zafgen Inc. has announced a clinical trial patients death. In the time since the announcement their stock has plummeted to a record low.

Detials Cinial Trial Patient's Death

According Medscape, the patient died during the latter stages of the trial. The trial was testing the company’s drug, named beloranib, which treats a rare genetic disorder that leads to obesity.

Zafgen claims that there is no clear reason why the patient passed and is working the United States FDA to try and figure out the cause of death and how the tragic death affects the trial.

The death caused the Zafgen stock to plummet almost 30 percent. This is just the latest of the stock’s woes. In the two days leading up to the death the stock had lost about 54 percent of its value. No one is quite sure why the stock suddenly plunged. The total lose of market value has been evaluated at $635 million. The stock is currently priced at a record low $10.90 after the tragic death.

About the Clinical Study

Zafgen was testing the beloranib drug on 108 patients as a possible treatment for Prader-Willi syndrome. The drug is administered through injection.

Prader-Willi syndrome, while rare, is the most common known genetic cause of life-threatening obesity. The main symptom of the disorder is insistent hunger, driving the person to eat and eat, leading to dramatic weight gain.

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