CollaGenex Pharmaceuticals trial for treatment of rosacea fails
Investors are sending shares of CollaGenex Pharmaceuticals, Inc. (Nasdaq: CGPI) spiraling downward today after the specialty pharmaceutical company said that results of a Phase 2 study of a drug aimed at the treatment of rosacea did not exhibit noticeably improved conditions in patients who received doses.
Shares of CGPI tumbled $2.20, or 19.77%, to $8.93 in Wednesday morning trading.
