Eagle Pharma shares tank after FDA stiff-arms its application for heat stroke remedy
Shares of Eagle Pharmaceuticals $EGRX tanked Wednesday afternoon after the biotech reported that the FDA has snubbed its pitch to market its drug Ryanodex for heat stroke. And this rejection may take awhile to overcome.
Eagle didn’t say why the FDA rejected its drug Ryanodex (dantrolene sodium), which is approved for malignant hyperthermia, limiting itself to a terse statement that
the agency wants another clinical study before it will reconsider its marketing application.
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