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Encysive Pharmaceuticals Stock Drops on FDA Delay |
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Monday, 27 March 2006 |
Encysive Pharmaceuticals Stock Drops on FDA Delay
 LOS ANGELES, CA, (NAMC) - Encysive Pharmaceuticals (NASDAQ: ENCY) in pre-market trading is down heavily. The company was banking on an FDA approval for their Thelin(TM) (sitaxsentan sodium) drug, which they initially thought would happen, but the FDA seems to be requiring more trial work before they give the final nod.
This could create financial issues for the company as they have hired additional sales people to market their new drug.
The beneficiary of the FDA not giving their approval for Thelin, will be Swiss biotechnology company Actelion.
Encysive is currently on a conference call discussing the issue with investors and the investment community.
Encysive is trading at $5.00 in pre-market trading, down over 40 percent. This article can be republished either online or in print as long as credit is given to the author and the NAMC Newswire. NAMC Newswire articles can now be listened to on StreetIQ.com http://www.streetiq.com/dir/NAMC.shtmlTo keep up to date with companies that we report on just register to receive the FREE Wall Street to Main Street Daily Newsletter. We feature companies that trade on the NYSE, AMEX, NASDAQ, OTCBB and Overseas, Keeping our readers informed daily. Just go to our site and register, it’s simple and free, www.namcnewswire.com/newsletter . Also be sure to visit the NAMC radio at www.namcnewswire.com/namcradio for the latest reports, interviews and corporate updates featured on the NAMC Newswire. |
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