Nivalis Therapeutics Plummet As Cystic Fibrosis Drug Study Fails

Nivalis Therapeutics Inc. shares fell in the extended session Monday after the drug developer said its cystic fibrosis drug failed to reach endpoints in a clinical trial. Nivalis shares, which had been briefly halted, fell 56% to $2.73 after hours. The company said a mid-stage clinical study of its drug cavosonstat did not significantly improve lung function in cystic fibrosis patients when compared to a placebo.