Mallinckrodt drops as Citron accuses company of not disclosing ‘failed’ trial

Shares of Mallinckrodt (MNK) are falling after Andrew Left’s Citron Research tweeted that the company “has just FAILED it’s only real clinical trial of Acthar. Mallinckrodt has failed to disclose. Citron will follow with the full story on why the OIG and MEDPAC are finally about to put an end to this charade.” The short-focused research firm linked its tweet to an article from the “Clinical Journal of the American Society of Nephrology” that discusses the “ATLANTIS Randomized Trial.” The conclusions section states: “ACTH at 80 U/1.73 m2 administered twice weekly was ineffective at preventing disease relapses in pediatric nephrotic syndrome.” In afternoon trading following Citron’s tweet, Mallinckrodt shares have declined $2.95, or 11%, to $23.47.
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