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Shares of NGM Biopharmaceuticals Inc. tumbled 67.4% in premarket trading on Monday after the company said its experimental treatment for an advanced form of macular degeneration did not meet the primary endpoint in a Phase 2 clinical trial. NGM said it plans to share additional information from the study at the Retina Society’s annual meeting next month. The company’s stock is down 34.8% this year, while the broader S&P 500 has declined 24.8%.
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