Circassia Falls Most Ever as Cat-Allergy Drug Fails in Trial

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  • Shares down as much as 67 percent, most since 2014 IPO
  • Company halts work on grass, ragweed allergy therapies

Circassia Pharmaceuticals Plc, a U.K. drugmaker backed by investor Neil Woodford, plunged by a record 67 percent in London trading after the company’s drug to prevent cat allergies failed to work better than a placebo in a clinical trial.

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