Polypid hits record low after surgery infection treatment study fails

Polypid

02/09/2022 15:07

(Updates)
    Sept 2 (Reuters) -    ** Israel-based Biopharmaceutical co
Polypid Ltd  PYPD.O  shares hit record low, falling 78% to $1.2
    ** Shares tumble after co's abdominal surgery site infection
treatment D-PLEX100 did not achieve key goal in late-stage study
 urn:newsml:reuters.com:*:nGNX2KsHvP
    ** Co says there were 11 deaths in D-PLEX100 treatment
group, compared to 15 deaths in the stand of care treatment
group
    ** “While these top-line results did not meet our
expectations following the highly compelling positive data
generated in our Phase 2 study, we remain confident in the
future potential of D-PLEX100” - CEO Dikla Czaczkes Akselbrad
    ** Almost 1.8 million shares changed hands, stock's highest
trading volume since debut on Nasdaq over 2 years ago
    ** Session's losses drag stock down 76% YTD

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((Nandhini.Srinivasan@thomsonreuters.com;))