Celsion slips after Seeking Alpha contributor sees 50% downside
Shares of Celsion (CLSN) are trading lower after-hours after a Seeking Alpha contributor said the company's Phase III ThermoDox HEAT trial was a "total failure." WHAT'S NEW: According to a post from a Seeking Alpha contributor, Celsion's Phase III ThermoDox HEAT trial was a "total failure." The author said they spoke to "key opinion leaders as well as doctors" that participated in Celsion's Phase III study. The article said that the failure of this trial gives Celsion "no chance" of getting regulatory approval, giving Celsion a worthless asset in ThermoDox. The contributor, who discloses holding a short position in Celsion's shares, puts a 73c price target on the stock, or more than 50% downside from today's closing price of $1.59 per share. PRICE ACTION: Shares of Celsion are down about 80% year-to-date, but have gained over 60% in the last month, closing as high as $1.96 per share on May 30. In after-hours trading, Celsion is down about 29c, or 18.24%, to $1.30 per share.