Corautus Genetics (Nasdaq: VEGF) has suspended a PhaseIIIb clinical trial for treatment of severe angina and also cancelled a public offering of its stock.
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.