Binary events are an integral part of biotech investing; positive results from a clinical study can send shares soaring, while negative results can send a stock into a steep downward spiral.
Unfortunately, shareholders of drug developer Celsion (NASDAQ: CLSN ) experienced the latter today. The company announced that its experimental liver cancer therapeutic, ThermoDox, failed to meet its primary endpoint in a pivotal phase 3 clinical trial. Health care analyst Max Macaluso breaks down this story in the following segment.
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