UPDATE: Pain Therapeutics (PTIE), DURECT (DRRX) Sink in Active Trade
(Updated - November 1, 2012 11:13 AM EDT)
Both Pain Therapeutics Inc. (Nasdaq: PTIE) and DURECT Corporation (Nasdaq: DRRX) are under heavy pressure Thursday, raising eyebrows among traders. Pfizer had its conference call today and traders would have been looking for commentary on Remoxy. It is unclear at this point what, if anything Pfizer said.
PTIE is down 23 percent and DRRX is down 38 percent, having been halted numerous times.
UPDATE: It is now being said among biotech watchers that Pfizer noted "problems" lingering with FDA on the re-file.
From @adamfeuerstein on twitter:
RT @JNapodano: @adamfeuerstein Yes, apparently $PFE noted "problems" lingering with FDA on the re-file.
Both Pain Therapeutics Inc. (Nasdaq: PTIE) and DURECT Corporation (Nasdaq: DRRX) are under heavy pressure Thursday, raising eyebrows among traders. Pfizer had its conference call today and traders would have been looking for commentary on Remoxy. It is unclear at this point what, if anything Pfizer said.
PTIE is down 23 percent and DRRX is down 38 percent, having been halted numerous times.
UPDATE: It is now being said among biotech watchers that Pfizer noted "problems" lingering with FDA on the re-file.
From @adamfeuerstein on twitter:
RT @JNapodano: @adamfeuerstein Yes, apparently $PFE noted "problems" lingering with FDA on the re-file.