Shares of Miromatrix (NASDAQ: MIRO) plunged more than 15% in after-hours trading on Wednesday after the life sciences company announced that the U.S. FDA had placed a clinical hold on its investigational New Drug (IND) application for Miroliverelap for the treatment of acute liver failure.
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The company submitted the IND application in mid-November.
MIRO stock has plunged more than 34% in the past year.