Medpace Stock Drop. Biotech’s Doldrums Are to Blame.

Medpace Stock Drop. Biotech’s Doldrums Are to Blame.·Barrons.com

The crisis that has swept the biotech sector crashed into Medpace Holdings on Tuesday, sending shares of the drug-testing company down more than 13% in morning trading. Medpace which runs clinical trials of experimental medicines on behalf of drugmakers, revealed third-quarter results late Monday that implied weaker-than-expected demand from drugmakers. On an investor call Tuesday morning, Medpace CEO August Troendle said the company had seen higher-than-normal levels of cancellations in the third quarter, an issue that has dogged the company throughout the year.

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