No, they did not have a failed clinical trial. In fact, check out their website, they have some great phase III's going on or about to begin for diseases such as Parkinson's, Huntington's, Alzheimer's and others.
They dropped because their financials are weak IMHO. They are having trouble paying the bills per their last quarterly report.
My hope if that they start to pick up revenue from their Neotine sales and their proprietary skin care formula that they currently sell to companies like Estee Lauder.
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