Fibrocell on the Rebound

Fibrocell on the Rebound

In a sea of red in the market place today following the UK’s decision to leave the European Union so aptly named Brexit, one stock managed to find its way to greener pastures. Fibrocell Science Inc. (NASDAQ: FCSC) was up 33% by market close, recovering from a 36% drop in its share price on June 8th after the Company revealed that the primary endpoints were not met in its second stage clinical trial of azficel-T for the treatment of vocal cord scarring resulting in chronic or severe dysphonia. Thus being said, Fibrocell will now focus its efforts and resources on its gene therapy portfolio of drug candidates developed in conjunction with its collaborator Intrexon Corporation (NYSE: XON) for the treatment of linear scleroderma and genetically-modified fibroblasts to treat chronic inflammatory and degenerative diseases of the joint, including arthritis and related conditions.

Fibrocell shares traded as high as $1.59 during the trading session before closing at $1.37 on way above average volume of 7.6 Million shares being traded.

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