Starpharma Holdings Limited
(ASX:SPL) sank 29 per cent yesterday as investors responded to disappointing results for its lead product VivaGel and the resignation of a director.
The pharmaceutical company says it will be investigating what went wrong in the failed clinical trial but affirmed the fundamentals of its strategy have not changed.
In addition one of the company’s founding directors, Ross Dobinson, announced his surprise resignation yesterday after 15 years with the company.
Shares in Starpharma Holdings sank 29 per cent, or 47 cents, on Thursday to close at $1.15.
Starpharma Holdings booked a net loss of almost $14 million in the 2012 financial year.
