Why Bellus Health Stock Tanked 69.2% Today
Shares of Bellus Health (NASDAQ: BLU) (TSX: BLU) were falling 69.2% at 2:40 p.m. EST on Monday following its announcement that a phase 2 trial of BLU-5937 as a treatment for refractory chronic cough has missed its mark.
The biotech company says millions of patients suffer from chronic cough despite existing treatments, including Merck's (NYSE: MRK) gefapixant, a P2X3 antagonist associated with a side effect of taste loss that's hindered its use.
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Source Fool.com
