Small Pharmaceuticals Rallying Following FDA Report
The FDA on Monday issued a briefing document ahead of its Anesthetic and Analgesic Drug Products Advisory Committee Meeting scheduled for June 11-12.
The report that new drugs designed to treat opioid-induced constipation may not require large studies to rule out heart risks before approval. According to the report, the length of the studies may be "impractical" given the purpose of the drugs.
The following stocks stand to be affected by the decision and have been reacting to the report.
- Progenics Pharmaceuticals (NASDAQ: PGNX) up ~9 percent to ~$3.80
- Nektar Therapeutics (NASDAQ: NKTR) up ~8 percent to ~$12.10
- Sucampo Pharmaceuticals (NASDAQ: SCMP) up ~3 percent to ~$7.45
- Synergy Pharmaceuticals (NASDAQ: SGYP) up ~5 percent to $4.45
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