Matrixx Initiatives Dives After FDA Lays Down The Law

Matrixx Initiatives, Inc. (nasdaq:mtxx) dives after Benzinga reported earlier today that the FDA is unwilling to change its stance on the cold remedy Zicam.

In June, Matrixx Initiatives voluntarily withdrew two of its existing Zicam products after the FDA issued a warning letter that the products could cause a loss of smell.

Matrixx is trading down 11.73% to $4.44 in pre-market trading. MTXX closed at $5.03 on Friday.