It was a bad day for shareholders of XTL Biopharmaceuticals. After its one-and-only drug that’s close to market failed clinical trials against a placebo, the company’s stock fell 95% in value to $0.13 per share.

How fucked does Wall Street think they are? Their market cap is a pathetic $366,000 even though they have $8 million in the bank and 0 debt.

XTL’s CEO, Ron Bentsur, had this to say:

“We are all very disappointed with the results of the study. We will devote the next few days to further analyze the data and decide on the appropriate course of action for the Bicifadine program, and for the company.”

Best of luck selling, Ron.

[Yahoo Finance] XTL Biopharma plunges on Bicifadine trial failure