Nasdaq Halts Oscient Shares; FDA Panel Meets to Review Factive Sinusitis Treatment
Oscient Pharmaceuticals Corp. said Tuesday the Nasdaq has halted trading of its shares ahead of a Food and Drug Administration meeting to review a new use for its drug Factive.
An FDA panel is scheduled to vote on whether the drug, which is currently used to treat certain types of pneumonia and bronchitis, should be used to treat acute sinus infections.
But the drug has raised some safety concerns. According to FDA documents released Monday, patients taking Factive were more likely to develop an allergic rash than those taking other approved products. JMP Securities analyst Adam Cutler on Monday said approval of the drug's new use is "probaby a long shot."
The company's shares closed at $1.14 on Monday.
Oscient Pharmaceuticals Corp. said Tuesday the Nasdaq has halted trading of its shares ahead of a Food and Drug Administration meeting to review a new use for its drug Factive.
An FDA panel is scheduled to vote on whether the drug, which is currently used to treat certain types of pneumonia and bronchitis, should be used to treat acute sinus infections.
But the drug has raised some safety concerns. According to FDA documents released Monday, patients taking Factive were more likely to develop an allergic rash than those taking other approved products. JMP Securities analyst Adam Cutler on Monday said approval of the drug's new use is "probaby a long shot."
The company's shares closed at $1.14 on Monday.
posted by doublezero at
9:38 AM
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