Javelin Pharma Stock Takes Hit

Xconomy Boston — 

Javelin Pharmaceuticals’s stock had lost more than a quarter of its value as of late this morning. This comes on the heels of the Cambridge, MA-based drug developer (AMEX:JAV) announcing this morning that its late-stage clinical of intranasal ketamine (Ereska) showed “borderline” statistical improvement over placebo in treating pain after orthopedic surgery. According to Google Finance, the company’s stock was down 54 cents or 26.47 percent to $1.50 per share for the day, as of 11:12 am ET.