Shares of Israeli biotech Can-Fite BioPharma Ltd. tumbled 25% in premarket trade Tuesday, after the company said a trial of a glaucoma treatment failed to meet its main goal. The company said a phase II trial conducted by it’s subsidiary ophthaliX, which trades over the counter, failed to meet its primary endpoint, showing no statistically significant differences between the treated group and those taking a placebo. “We are disappointed that CF101 failed to meet its primary endpoint, and based on these overall results we see no immediate path forward in glaucoma,” said Pnina Fishman, PhD, chief executive of Can Fite BioPharma. Shares were down 10% for the year so far through Friday, while the S&P 500 has gained 2.9%.
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