Why Shares of Anacor Pharma Crumbled Today

Anacor Pharmaceuticals (NASDAQ: ANAC  ) announced today that its onychomycosis drug tavaborole successfully met both its primary and secondary endpoints in its first phase 3 trial. Rather than celebrate this news, however, investors saw shares drop around 20% today. Why did this happen?Could the fall have something to do with a rival drug that Valeant Pharmaceuticals (NYSE: VRX  ) is seeking FDA approval for? In this video, health care analyst Max Macaluso breaks down this news.

While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. In our free report "3 Stocks That Will Help You Retire Rich," we name stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2222415, ~/Articles/ArticleHandler.aspx, 10/25/2014 9:07:18 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement