NexMed (NEXM) Murdered After Pulling NDA for NM100060
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Shares of NexMed, Inc. (Nasdaq: NEXM) are under heavy pressure this morning (-76%) following news the company will not to submit a New Drug Application for NM100060 with the FDA at this time.
NexMed cited the First Interpretable Results of Phase III clinical studies for NM100060, which is a topical application of terbinafine formulated with NexACT for the treatment of onychomycosis.
CEO Vivian Liu said, "While this is disappointing, a European comparator study is still ongoing, and those results are expected mid 2009."
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