InterMune [NASDAQ:ITMN] shares plummet |
Biotechnology Companies | |||
Written by Hugh McManus | |||
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I just checked with TDAmeritrade: shares of InterMune really plummeted in afterhours trading. The price dropped by 76% to $10.90: there are lots of happy put investors out there. It's sad news for shareholders. The precipitous drop was caused by news from the FDA: the agency declined to give marketing approval to pirfenidone; InterMune has to submit another phase III clinical trial.
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