Why Miromatrix Medical (MIRO) Shares Are Trading Lower Today

The FDA has placed a clinical hold on Miromatrix Medical Inc's MIRO miroliverELAP Investigational New Drug (IND) application for acute liver failure.
The miroliverELAP IND application was submitted in mid-November. The FDA indicated they would provide an official clinical hold letter to Miromatrix within 30 days.
Miromatrix plans to provide additional updates pending communication with the FDA.
Miromatrix Medical is a life sciences company that has developed a proprietary perfusion technology platform for bioengineering organs to address the shortage of available human organs.
The Company's initial development focus is on human livers and kidneys.
Miromatrix is scaling to clinical-sized implants and recently successfully revascularized a decellularized porcine liver graft with human vascular cells and sustaining perfusion for 15 days post-transplantation.
Price Action: MIRO shares closed 32.90% lower at $2.75 during premarket trading on Thursday.

FDA Slaps Clinical Hold On Miromatrix's For Bioengineered Liver Platform