zfgn – Scalper1

Zafgen Plunges On Death In Obesity-Drug Trial

Shares of biotech Zafgen (ZFGN) lost more than half their value Wednesday after the company reported a second death in its obesity-drug trial. Zafgen has been running an open-label extension study (in which all patients, including the former placebo group, knowingly go on a drug) of its drug beloranib as a treatment for Prader-Willi syndrome, a genetic disease that brings chronic hunger and overeating, among other things. The company reported that

IPO Stock Watch: Biotech Zafgen Up 22% On IPO Debut

Zafgen (ZFGN), a developer of treatments for severe obesity and hunger-related disorders, rose 22% on its IPO debut Thursday. Zafgen raised $96 million by offering 6 million shares at 16, the high end of its range. Another biotech with an initial public offering Thursday was Ardelyx (ARDX), which is developing therapies for late-stage kidney disease. It raised $60 million by offering 4.3 million shares at 14, the midpoint of its range. The stock