Why Takeda Pharmaceutical Stock Is Down More Than 10% Today
Shares of Japanese pharmaceutical company Takeda Pharmaceutical (NYSE: TAK) were down by more than 10% as Wednesday's closing bell neared, following the company's decision to prematurely stop a key drug trial due to safety concerns.
The drug in question is TAK-994, in phase 2 trials as a treatment for two different types of narcolepsy. Takeda did not offer details on the dangers linked to the therapy, limiting its explanation to "a safety signal has emerged in phase 2 studies of TAK-994." But clearly it's concerning enough to prompt an abrupt end to the trial.
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Source Fool.com
