Northstar Neuroscience says Everest trial fails
Shares of Northstar Neuroscience, Inc. (Nasdaq: NSTR), are tanking to a new 52-week low in pre-market after the medical device company, which develops therapies for the treatment of neurological diseases and disorders, said that its EVEREST pivotal trial evaluating cortical stimulation to improve hand and arm function in stroke survivors failed.
The EVEREST trial was designed to determine whether cortical stimulation in conjunction with rehabilitation therapy would lead to greater gains in hand and arm function and activities of daily living than rehabilitation therapy alone.
Shares of Northstar Neuroscience (NSTR) sunk 86.24%, or $7.21, to $1.15 in pre-market trading. Shares of Northstar Neuroscience have been trading in the range of $7.83 to $14.81 for the past 52 weeks.
