Catabasis Pharmaceuticals Inc. shares dropped in the extended session Tuesday after the tiny biotech said its high-cholesterol treatment did not meet the primary goal of lowering bad cholesterol in patients already taking medication for the condition. Catabasis shares, which had been briefly halted at $6.85, tumbled 51% to $3.35 after hours on light volume. The company said that it does not expect to invest further resources in the drug candidate known as CAT-2054.
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