Buffeted by safety fears, Cempra shares crushed after FDA flags a warning on its antibiotic
Shares of Cempra Pharmaceuticals plunged 45% $CEMP in early trading Wednesday after investors were alarmed by an FDA review of its antibiotic, which raised red flags over a serious safety issue involving liver injuries among the patients they tested it on.
Solithromycin is designed to work by meddling with bacterial protein synthesis. And with a large number of community-acquired bacterial pneumonia patients (CABP) resistant to the leading antibiotic on the market, the Chapel Hill, NC-based biotech has won close attention for its research work.
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