Ver­nalis shares slide af­ter FDA turn thumbs down on their lat­est XR cold med

Five years ago Ver­nalis and Tris Phar­ma came up with a plan to de­vel­op a port­fo­lio of brand­ed cold meds, us­ing Tris’ ex­tend­ed-re­lease tech to tweak ex­ist­ing med­ica­tions and turn them in­to an eas­i­er-to-use for­mu­la­tion. That worked on the first try, pro­duc­ing an FDA ap­proval for Tuzis­tra XR — codeine poli­s­tirex and chlor­pheni­ramine poli­s­tirex — in the fall of 2015. But the part­ners ran in­to a hitch to­day, with the FDA throw­ing the red flag on their sec­ond try.

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