Lit­tle Zosano takes an­oth­er beat­ing as the FDA slaps down their ap­pli­ca­tion for a mi­graine patch

Zosano $ZSAN has of­fi­cial­ly come up short in its bid to de­vel­op a mi­graine patch.

The FDA re­ject­ed the com­pa­ny’s ap­pli­ca­tion to re­pur­pose the trip­tan zolmitrip­tan in a new de­liv­ery sys­tem as Qtryp­ta, Zosano said Wednes­day morn­ing, is­su­ing a CRL for the mi­cronee­dle patch. Reg­u­la­tors cit­ed in­con­sis­tent ex­po­sure lev­els across mul­ti­ple clin­i­cal tri­als as the main rea­son for the thumbs down.

In­vestors did not take too kind­ly to the news, with Zosano shares plunk­ing down around 25%. The com­pa­ny is re­quest­ing a Type A meet­ing to “pro­vide clar­i­ty on the next steps for the pro­gram,” CEO Steven Lo said in a state­ment.

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