Stock Market Alert - NEOL plunged on Monday, trading down over 67% to close the regular session at $2.16 after the company announced that its cintredekin besudotox had failed in trials. Volume was extremely heavy on the day as the bottom fell out of the stock, with over 21 million shares of the stock changing hands, compared to a normal daily average of 426k shares traded. The stock easily fell past its original 52 week low of $4.32, setting a new low of $1.68 before reversing slightly and closing at $2.16. As of Monday’s close, NEOL had a market cap of just over $60 million dollars.
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