VBL to stop developing drug for psoriasis, ulcerative colitis

February 17, 2015 2:21 PM

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(Reuters) - Israel's VBL Therapeutics Inc said it would stop developing its experimental inflammatory drug to fight ulcerative colitis and psoriasis, sending its shares tumbling 45 percent before the bell.

The company said the drug, VB-201, failed to meet the main goal in separate mid-stage trials for the two indications.

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