Exopharm (ASX:EX1) share price plunges 17% after animal testing results

The Exopharm Ltd (ASX: EX1) share price is tumbling today after the company released its preclinical data from its osteoarthritis animal study, showing its two regenerative medical products had no effect on the rats studied.

At the time of writing, the Exopharm share price is down 15.7%, trading at 59 cents after hitting an intraday low of 55 cents.

Exopharm is a biopharmaceutical company focused on developing regenerative medicine. It’s currently investigating the therapeutic potential of two products, Plexaris and Cevaris, in treating osteoarthritis.

The company also aims to commercialise exosomes as therapeutic agents. Exosomes are membraneous structures that allow cells to communicate and have the potential to restore dying…