Anyone notice the absolute shellacking of Pharmaxus yesterday (down 75%)?
Kinda similar to BTA and Relenza back in the day, when the FDA's internal anti-viral committee were not supporting Relenza due to efficacy varying between different age groups. Despite Relenza already being approved in other jurisdictions e.g. Sweden?
Pharmaxis's Bronchial drug was given a preliminary negative vote by the euro drug guys the other day, even though the drug is on sale in Oz. They had reservations about the drug's efficacy differing between old & young people.
The point of the story? I dunno, but we (& others like Mesoblast) can never take a smooth NDA process for granted.
BTA Price at posting:
$1.16 Sentiment: Buy Disclosure: Held