Matrixx (MTXX) Shares Tumble as FDA Won't Reverse Position on Zicam
Shares of Matrixx Initiatives (Nasdaq: MTXX) are getting slammed this morning following an 8-K filing announcing that the FDA has now indicated that it is unwilling to reverse its position related to Zicam Cold Remedy nasal gel products. The stock has plunged more than 12% to around $4.41.
Matrixx said it is currently evaluating its options. In addition, the FDA recently identified several observations of individual cases where the FDA indicated that Matrixx should have filed serious adverse event reports with the MedWatch Reporting system. The company said it is reviewing the observations and will be responding soon.
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