Regado Shares Devastated By Safety Review

After Wednesday's close, Regado Biosciences RGDO issued a press release to announce that the Data Safety Monitoring Board (DSMB) has launched an unplanned review of Regado's REGULATE-PCI trial data.

Shares of Regado have plummeted 56 percent Thursday as the street reacts to the new development.

In response to the announcement, Wedbush analysts issued a research note in which they downgraded shares of Regado from Outperform to Underperform and slashed the price target from $10 to $2.

The team at Wedbush says the launch of the DSMB's unplanned analysis implies the "situation is serious."