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5 of Pharma’s Most Disastrous Drug Approvals

A few warning stories about timing a pharma buy

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Working with GlaxoSmithKline (NYSE:GSK), XenoPort (NASDAQ:XNPT) won FDA approval for its restless leg syndrome drug, Horizant, back on April 6, 2011. The stock did jump in a major way that day, and given the fact that XNPT wasn’t already rising headed into the decision, the approval was a surprise.

For the XenoPort die-hards who stuck with XNPT when it didn’t look promising, they made a bundle on the bullish jump. For anyone who waited to buy until the approval became reality, though, there was no profit.

XNPT shares remain under that initial surge price.

Article printed from InvestorPlace Media,

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