Timber Pharma’s shares fell 1.4% to $12.69 at the close on Wednesday after the Australian medical equipment company’s shares plunged 1.6% to close at $12 a share.
Timber’s shares have slumped more than 8% in the last two weeks, and are now trading at a record low of $8.60 a share in a market that has seen the market rise by nearly a third.
Timmer has also been hurt by the news that the U.S. Food and Drug Administration (FDA) has delayed a proposed drug for the cancer drug colorectal cancer, a drug that the company hopes to launch next year.
In a letter to the FDA, the company said it is working to “delay” the drug, but that it expects to have it in place by the end of the year.
Timbers stock fell by 2.4%.
The company’s stock is down over 14% in 2017.
Timbre Pharma has also fallen, losing 3.9% over the last year, and has lost about half of its value.
The company also lost more than half of Timbre’s value in December, when it posted a $3.6 billion loss.
Timburys shares have plunged more than 11% over last year.