Boston, MA 06/18/2013 (wallstreetpr) – The share prices of Amicus Therapeutics Inc. (NASDAQ:FOLD) had declined by 20.38 percent to close at $2.54 per share for the end of last trading session on Monday. The decline in share prices of the pharmaceutical company can be attributed to the news that Amicus Therapeutics Inc. (NASDAQ:FOLD) had decided to further delay the filing of regulatory approval for its migalast drug until further last stage testing is done. The company had been working on this migalast drug which was aimed at being developed as a treatment for the rare enzyme disorder called Fabry Disease.
As Amicus Therapeutics Inc. (NASDAQ:FOLD) had not observed satisfactory results in the main and secondary last stage testing of the drug and owing to plans to run an extension to shore up the statistical analysis, the company had decided to postpone its regulatory approval filing for the drug. This had led the share prices of Amicus Therapeutics Inc. (NASDAQ:FOLD) to decline to their new 52 week low price levels at $2.30 per share, while the 52 week high price level of the pharmaceutical company is at $6.89 per share.
The shares of the company had opened at $2.34 per share and had been trading in the range of $2.30 to $2.63 per share during the trading session on Monday. With primary focus on treatment of human genetic diseases, Amicus Therapeutics Inc. (NASDAQ:FOLD) is engaged in the development, commercialization and marketing of orally administered and small molecule drugs known as pharmacological chaperones for treatment of wide range of diseases including lysosomal storage diseases and neuro degeneration diseases.
Amicus Therapeutics Inc. (NASDAQ:FOLD) had witnessed the trade of 3.04 million shares on Monday, while the average trading volume is at 309,780 shares per day. The company presently holds 49.63 million shares outstanding in the market with an institutional ownership of 75 percent of its holdings.
