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 Biotech / Medical : VICL (Vical Labs)

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From: A.J. Mullen9/22/2010 10:16:41 AM
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Vical shares crushed by failed drug trialRelated stories

SNY BOSTON (MarketWatch) -- Shares of biotech group Vical Inc. /quotes/comstock/15*!vicl (VICL 2.47, -1.39, -36.03%) were battered in early trading Wednesday on news that a Phase III clinical trial had shown its drug NV1FGF to be ineffective. French drug maker Sanofi-Aventis /quotes/comstock/13*!sny/quotes/nls/sny (SNY 33.78, +0.44, +1.32%) , which licensed the product from Vical a few years ago, had been testing the drug to see if it could help patients with severe cardiovascular obstructions in their limbs avoid major amputations. Shares of Vical plunged 40% to $2.30, while Sanofi shares were up 1%.

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