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.