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Arqule shares trip Nasdaq short sale circuit breaker
It has been reported that a plunge in Arqule shares triggered Nasdaq’s short-selling circuit breaker, as countless investors dumped the biotech stock after the company announced that it was discontinuing a key clinical trial.
The Phase 3 MARQUEE Clinical Trial in non-small cell lung cancer, which was undertaken by Arqule and partner Daiichi Sankyo, was carried out in a bid to improve overall survival rates.
According to reports, the independent data monitoring committee of the clinical trial recommended that the study be terminated after it concluded that the study would not meet its primary endpoint.
