No sur­prise: FDA hands Pain Ther­a­peu­tics an­oth­er slap­down on Re­moxy, forc­ing a quick re­struc­tur­ing

Just as ex­pect­ed, the FDA has once again hit Pain Ther­a­peu­tics $PTIE with a re­jec­tion of its ap­pli­ca­tion to sell Re­moxy. And the biotech’s CEO lashed out, call­ing the de­ci­sion “bizarre” as it prepped a com­pa­ny-wide re­struc­tur­ing.

How­ev­er they de­scribe the move, it couldn’t have been un­ex­pect­ed. A pan­el of out­side ex­perts turned thumbs down on the ap­pli­ca­tion by a vote of 14 to 3 as the agency re­mains vig­i­lant over any pain reme­dies that could prove vul­ner­a­ble to abuse.

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