Thinly traded micro cap resTORbio (NASDAQ:TORC) plummets 74% premarket on increased volume in reaction to its announcement that lead candidate RTB101 failed to achieve the primary endpoint in a Phase 3 clinical trial, PROTECTOR 1, evaluating its ability to prevent clinically symptomatic respiratory illness in patients at least 65 years old.
The company has terminated development of the TORC1 inhibitor for this indication.
A conference call is in process.
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