Investors respond negatively to Epix's FDA conditions
This article was originally published in Clinica
Executive Summary
Epix Pharmaceuticals saw its share price plummet last week after the US FDA granted it an approvable letter, but with conditions, for what is claimed to be the first of its kind imaging agent for magnetic resonance angiography (MRA), MS-325. Shares in the Cambridge, Massachusetts firm fell by 27.2% on the day of the announcement (January 14 2005), dropping $3.98 to $10.67.