Folotyn is a treatment for T-cell lymphoma, or PTCL. Allos Therapeutics (NASDAQ:ALTH) won FDA approval for the drug back on Sept. 24, 2009. Shares perked up a little bit before the good news was unleashed, but actually started to fade the day before the approval.
The first trading day after Folotyn got the green light we saw some buying, but by the end of the day, ALTH was in the hole 3.5%.
A month later, it was down 30%.