CHTP Stock – Chelsea Therapeutics Passes FDA Test, Stock Skyrockets

by Christopher Freeburn | January 15, 2014 11:19 am

CHTP Stock – Chelsea Therapeutics Passes FDA Test, Stock Skyrockets

A report that suggested impending approval[1] of a drug from Chelsea Therapeutics International (CHTP[2]) 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[3]
Source: Flickr[4]

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.

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.

Endnotes:
  1. suggested impending approval: http://online.wsj.com/news/articles/SB10001424052702303465004579322270571048800
  2. CHTP: http://studio-5.financialcontent.com/investplace/quote?Symbol=CHTP
  3. [Image]: http://investorplace.com/wp-content/uploads/2011/06/pills_spilling_prescription_bottle_630_flickr.jpg
  4. Flickr: http://www.flickr.com/photos/35987702@N03/

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