Posted March 15, 2006
Corautus Suspends Clinical Trial, Cancels Public Offering
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ATLANTA —
Corautus shares fell 15 percent to close at $3.40 Tuesday on the news. Corautus had planned to raise $26.5 million through the stock offering.
Corautus said it was suspending the trial at the request of Boston Scientific. Corautus was using a catheter system from Boston Scientific to deliver its investigational treatment for angina. Boston Scientific made the request after three reports of "serious adverse events" which don't appear to be related to the drug, Corautus said in a statement.
Corautus: www.corautus.com
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