Shares of Raptor Pharmaceuticals plunged 35.5 percent in premarket trading today. The company’s 50-day moving average is $13.19 and its 200 day moving average is $12.50. At the moment its market value is: $976.58 million and it has 80.98 million outstanding shares. Raptor Pharmaceutical Corp. has a 12 month low of $6.82 and a 12 month high of $16.28.

So what: Given the lack of therapeutic options for children with this serious liver disease, this particular indication for RP103 was seen as one of Raptor’s most promising commercial opportunities. There were no differences in adverse events observed in children on RP103 contrast to placebo.

Smith said her team plans on working closely with study sponsor, the National Institute of Diabetes and Digestive and Kidney Diseases to comprehend the full data set, but added that the company does not plan on continuing this program based on the results. Results will be presented at the November meeting of the American Association for the Study of Liver Diseases in San Francisco.

While these trial results imitated the serological changes found in the before Phase 2a study, they didn’t decipher into a quantifiable impact on histology. Year-to-date, shares rose 14% through Friday’s close. The Company is focused on developing and commercializing transformative treatments for people affected by rare and debilitating diseases. Its pipeline includes its delayed-release form of cysteamine, or RP103 and its oral 4-methylpyrazole, or Convivia.

The study involved 169 participants between 8 and 17 years old.

Raptor is testing RP103 in a big research to deal with sufferers with Huntington’s illness and in mid-stage research for Leigh Syndrome. Finally, its recent acquisition of Quinsair, a medicine approved in the European Union and in Canada for chronic pulmonary infections due to Pseudomonas aeruginosa in adult patients with cystic fibrosis, should also help provide a revenue lift next year.

Many other pharmaceutical companies including Gilead Sciences Inc and Intercept Pharmaceuticals are also working on projects for treatment of NASH.

The drug met its primary goal in the first mid-stage study carried out in 2010 but depending on the result of the latest clinical trial, Raptor said it will no longer pursue the development of RP103. A total of 8 funds closed their positions in Raptor Pharmaceutical Corp and 7 reduced their holdings.