Polypid tanks after surgery infection treatment study fails

Polypid

02/09/2022 14:22

Sept 2 (Reuters) -    ** Israel-based Biopharmaceutical co
Polypid Ltd  PYPD.O  shares fall 80% to $5.4 in premarket trade
    ** Shares tumble after co's abdominal surgery site infection
treatment D-PLEX100 did not achieve key goal in late-stage study
    ** 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
    ** More than 250,000 shares changed hands premarket, nearly
10 times the stock's 25-day moving average volume
    ** Up to last close, stock fell 6.1% YTD

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