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Decode Shares Tumble 14 Percent After Company Halts Heart Drug Study

Oct 06, 2006
NEW YORK (GenomeWeb News) — Shares in Decode Genetics were down 14.19 percent, or $.82, at $5.02 in mid-afternoon trading after the company said it was forced to halt the study of a heart drug.
 
Decode said it suspended the Pjhase III trial of its heart attack drug DG031 after discovering that tablets appear to dissolve more slowly over time than had been originally believed.
 
That prompted concerns that the tablets would release too little drug, limiting the effect of the compound and “undermin[e] the trial’s chances of success,” Decode said in a statement.
 
Decode said it has told the US Food and Drug Administration of the situation and is exploring alternative manufacturing processes.

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