us fda is investigating the safety of trt, page-34

Update on AFR
"More on local drug maker Acrux, which, despite its best efforts to hose down the likely implications of a move by the US regulator the FDA to review possible adverse implications of tostesterone replacement therapy (TRT), has come under renewed selling pressure this morning.

So far today its share price is down a heavy 9 per cent at $1.90 on top of yesterday’s 10 per cent dive, in continued heavy trading.

Macquarie got the ball rolling Tuesday by highlighting the FDA’s decision.

Other brokers have got in on the act this morning.

The FDA move followed two published papers which were ‘‘observational only and not clinical trials’’, Bell Potter told clients. In other words, there was no clinical evidence to point to an association between TRT and increased risk of a cardiac event.

‘‘We do not regard either study as being particularly reliable,’’ it told clients.

‘‘The impact on Axiron revenues, if any, is uncertain. In the interim, all TRT therapy remains on the shelves.’’

The broker cut its price target due to uncertainty around Acrux receiving a $US50 million milestone payment in fiscal 2015."

Does anyone have the Bell Potter updated report?