NeurogesX Sinks After FDA Panel Votes Against HIV Pain Patch
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NeurogesX Inc., a specialty drugmaker that has never reported an annual profit, dropped to its all-time low trading price after the company failed to win the backing of a U.S. advisory panel for a patch to relieve painful nerve damage commonly associated with HIV.
NeurogesX fell 28 percent to 58 cents at 4 p.m. That’s the lowest closing price since the San Mateo, California-based company began trading in May 2007, according to data compiled by Bloomberg. The decrease added to a 31 percent drop over two days earlier this week.