Acucela Set to Plunge as Drug Tie-Up Ends After Failed Trial
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Acucela Inc. is poised to plunge in Tokyo trading after a Japanese partner ended their tie-up as a clinical trial of the U.S. biotechnology company’s eye-disease treatment failed to meet objectives.
Acucela is set to fall as much as 24 percent in Tokyo, its daily limit. The stock has yet to open Tuesday because of a trading imbalance, with sell offers outnumbering bids by 21-to-1.