Failed clinical trial sends Novavax shares down 85 percent

September 17, 2016 at 5:53PM
Phil Little Thunder Sr. carries water from his home, the Rosebud Reservation, during a protest march at the Standing Rock Indian Reservation in North Dakota, Sept. 9, 2016. A federal judge on Friday denied the Standing Rock Sioux Tribe’s efforts to halt the construction of a pipeline skirting the northern edge of the reservation on Friday; on the same day, the government ordered a the pipeline company to pause its work. (Alyssa Schukar/The New York Times)
Phil Little Thunder Sr. was among protesters marching at the Standing Rock Indian Reservation in North Dakota. A pipeline construction project by Energy Transfer Partners was temporarily halted. (The Minnesota Star Tribune)

Terminally ill: Pharmaceutical company Novavax plunged 85 percent, to $1.29 Friday after the company said its experimental vaccine failed in late-stage clinical testing. Novavax has no active products on the market and this drug was their furthest in development.

Line troubles: Energy Transfer Partners fell 4.2 percent, to $37.51. Monday following the federal government's decision the previous week to temporarily halt its $3.8 billion pipeline project following protests from the Standing Rock Sioux tribe. Shares closed the week at $36.37.

Good bounce: Goodyear Tire & Rubber climbed 4 percent to $31.95 Thursday after the company boosted its dividend and said it plans to return $4 billion to shareholders over the next few years. The stock closed the week at $32.42.

Raptor roars: Drugmaker Raptor Pharmaceutical Corp. climbed 20 percent, to $8.95 Monday after Horizon Pharma said it will buy the company for $9 per share, or about $768 million. Raptor shares closed the week at $8.99. Horizon, which rose 7 percent to $18.46 Monday, closed at $19.28 Friday.

Text me back: Software company Open Text climbed 8.5 percent, to $64.84 Monday after it said it will buy a unit of Dell EMC for $1.62 billion. Open Text shares closed Friday at $64.77.

Chip chip, hurrah: Chipmaker Intersil's shares rose 9 percent to $21.58 Tuesday after it said it had agreed to be bought by Renesas of Japan. Renesas' offer values Intersil at $22.50 per share. The stock closed Friday at $21.71.

about the writer

about the writer

News Services

More from Business

See More
card image
Fairview Health Services

The school is changing an elective course while still working with the Eden Prairie-based health care giant after students raised concerns.

This transmission electron microscope image shows SARS-CoV-2, the virus that causes COVID-19, isolated from a patient in the U.S., emerging from the surface of cells cultured in the lab. (NIAID/TNS) ORG XMIT: 1659810
card image