Miromatrix Medical Stock Plunges On FDA Clinical Hold

(RTTNews) - Miromatrix Medical Inc. (MIRO) said it was informed via e-mail from the U.S. Food and Drug Administration that the miroliverELAP Investigational New Drug application for the treatment of acute liver failure has been placed on clinical hold.

MIRO closed Wednesday's regular trading at $4.10 down $0.10 or 2.38%. In the after-hours trade, the stock further dropped $0.66 or 16.10%.

The company did not disclose the reason for the clinical hold.

The miroliverELAP IND application was submitted in mid-November.

The FDA indicated they will provide an official clinical hold letter to Miromatrix within 30 days.

Miromatrix stated that it plans to provide additional updates pending communication with the FDA.

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