CHTP Stock – Chelsea Therapeutics Passes FDA Test, Stock Skyrockets

An FDA panel voted strongly to support a blood pressure drug

   

CHTP Stock – Chelsea Therapeutics Passes FDA Test, Stock Skyrockets

A report that suggested impending approval of a drug from Chelsea Therapeutics International (CHTP) sent CHTP stock vaulting more than 110% in Wednesday morning trading.

pills spilling prescription bottle 630 flickr 300x200 CHTP Stock   Chelsea Therapeutics Passes FDA Test, Stock Skyrockets
Source: Flickr

The U.S. Food and Drug Administration (FDA) declined to approve Northera, CHTP’s blood pressure treatment, in 2012. CHTP resubmitted the drug in September. A research note from analysts at Wedbush indicated that an FDA advisory panel recently voted 16 to 1 to support the drug, the Wall Street Journal noted.

prescription drugs 200x200 CHTP Stock   Chelsea Therapeutics Passes FDA Test, Stock Skyrockets
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The advisory panel’s vote is not binding on the FDA, which had previously found technical problems with the drug’s data. However, Wedbush predicted that Northera had a 65% chance of receiving FDA approval by Feb. 15.

Between March and the end of December, CHTP stock had rise more than 160%. CHTP stock traded over $4 a share on Wednesday morning.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/chtp-stock-chelsea-therapeutics-passes-fda-test-stock-skyrockets/.

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