Actually, re-reading this press release enrages me. They are spinning this like it’s a positive: “...one step closer to approval”. Even just a regular small time investor in US pharma/biotech knows that receipt of a CRL from the FDA is the worst possible outcome. A CRL is a formal decision not a step in the process, and Scott well knows this. Most stocks get absolutely smashed after a CRL - in recent months I’ve seen anywhere from 50-80% plunges in the share price within minutes of news that a CRL has been issued. For many drug companies it’s the end of the road for that drug.
What planet is Mayne on here? I like optimism but I don’t appreciate bullish!t dressed up as tinsel.
Ann: MAYNE PHARMA provides FDA update on generic NUVARING, page-6
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Last
$4.52 |
Change
-0.080(1.74%) |
Mkt cap ! $392.1M | |||
| Open | High | Low | Value | Volume |
| $4.60 | $4.67 | $4.51 | $365.0K | 79.76K |
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| No. | Vol. | Price($) |
|---|---|---|
| 9 | 5642 | $4.51 |
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| Price($) | Vol. | No. |
|---|---|---|
| $4.52 | 324 | 4 |
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