FDA rejects Acer's rare disease drug, asks for new trial — shares crater
Acer Therapeutics’ bid to repurpose celiprolol — a beta-blocker on the market for hypertension — as a treatment for a rare, inherited connective tissue disorder has hit a severe setback. The Newton, Massachusetts-based company on Tuesday said the FDA rejected the drug and has asked for another clinical trial.
The company’s shares $ACER cratered nearly 77% to $4.47 in Tuesday morning trading.
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