Why Endo International Shares Are Getting Hammered Today

Endo International PLC ENDP shares are trading lower by 16.86% to $0.39 after the company provided top-line results from its Phase 2 study of CCH in patients with adhesive capsulitis of the shoulder, saying "the difference compared to those study participants receiving placebo was not statistically significant."

"We are disappointed in the study outcome, and based on these data, we will be reevaluating our path forward for CCH for the treatment of adhesive capsulitis of the shoulder. We will continue focusing on our pipeline, including with respect to other potential CCH indications," said James P. Tursi, M.D., Executive Vice President, Global Research & Development at Endo.

"We are committed to advancing our strategic priority of expanding and enhancing our portfolio for growth," Tursi added.

See Also: Why Kohl's Stock Is Sinking Today

Endo International is a specialty pharmaceutical company.

According to data from Benzinga Pro, Endo International has a 52-week high of $7.07 and a 52-week low of $0.28.