Pain Ther­a­peu­tics en­dures yet an­oth­er FDA slap­down on Re­moxy — time to call it quits?

The pain just won’t stop for Pain Ther­a­peu­tics $PTIE.

A pan­el of out­side ex­perts at the FDA to­day slapped down their lat­est at­tempt to get Re­moxy ER over the fin­ish line and in­to the mar­ket. But op­er­at­ing in a field where vig­i­lance over po­ten­tial abuse has reached a fever pitch, the ma­jor­i­ty of the pan­el turned thumbs down.

The vote was 14 against ap­proval, on­ly 3 for.

That is not nec­es­sar­i­ly a death sen­tence on the pitch, but it comes close. The biotech’s stock was evis­cer­at­ed in af­ter-mar­ket trad­ing, drop­ping 72% in an ex­tinc­tion-lev­el event.

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