Shares in Neurochem (NRMX) are down 30% today to a 52-week low of $3.70.
According to The Associated Press "its Alzheimer’s disease treatment candidate failed in a late-stage clinical trial."
NRMX shares traded as high as $26.51 during the last 52 weeks. Of course, they probably never belonged there. At that share price, the company had a market cap of almost $1.2 billion. Last year, NRMX lost over $66 million on under $3 million in revenue.
The higher share price never made any sense.
Douglas A. McIntyre