Shares of Neothetics (NASDAQ: NEOT) plummeted more than 69% to a new 52-week low of $0.70 after the specialty pharmaceutical company said its fat reduction candidate, LIPO-202-CL-31, failed to demonstrate improvement on any efficacy measurements or separation from placebo. LIPO-202 continued to show a benign safety profile. “We are determining the path forward for the company,” Kim Kamdar, Ph.D., a member of Neothetics’ operating committee and board of directors, stated in the news release. “Our primary objective is to maximize value for our shareholders, and we will be expeditious and diligent in deciding next steps. We will share our future plans shortly.” Neothetics trades in a 52-week range of $0.72-$2.63.
To view the full press release, visit: http://nnw.fm/6xMdD
About Neothetics, Inc.
Neothetics is a San Diego based clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market. Our initial focus is on localized fat reduction and body contouring. For more information on Neothetics, please visit www.neothetics.com. Neothetics, LIPO-202, LIPO-102 and the Neothetics logo are trademarks or registered trademarks of Neothetics, Inc. Other names and brands may be claimed as the property of others.
NetworkNewsBreaks (NNB) provide a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer