Icagen Losses Increase, Shares Drop
Posted August 11, 2006
RESEARCH TRIANGLE PARK, N.C. — Icagen
(Nasdaq: ICGN), which reported a setback in the trial of its lead drug candidate earlier this week, said Thursday its losses increased in the second quarter.
Icagen shares fell 4 cents to close at 99 cents.
Icagen loss $6.3 million. Revenues were $2.6 million.
The company's stock has been pummeled this week since it announced a data monitoring committee had recommended that patients not receiving additional treatment in con junction with its sickle cell drug ICA-17043 be withdrawn from the trial.