Monday, March 5, 2012

Despite last-minute jitters, Vimovo approved.(MONDAY, MAY 3)

Executives of Pozen Inc. assured Wall Street a decision was coming on its new drug application for gastric-friendly nonsteroidal inflammatory candidate Vimovo, even as antsy investors decided no news was bad news and pushed the company's stock down 10 percent April 30. Shares of Pozen (NASDAQ:POZN) closed at $10.85, down $1.23. But the Chapel Hill, N.C-based firm turned out to be right: The FDA handed down an approval late in the afternoon, news that sent the stock up 21 percent in after-hours trading. The delay had investors worried that the agency might still have questions about the endpoints used in Pozen's …

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