Shares of Hemispherx (NYSEMKT:HEB) climbed almost 200% in 2012 over investor excitement that the company would be resubmitting its chronic fatigue syndrome drug Ampligen for approval from the Food and Drug Administration. The FDA rejected the drug in 2009, citing insufficient efficacy and safety data, but rather than conducting further trials, Hemispherx attempted to simply rework the data it already had. Apparently, the agency disagreed with that approach as negative briefing documents ahead of Thursday's advisory committee meeting sent shares down 45%. In this video, Motley Fool health care analyst David Williamson takes us through just how bad the damage is.
The Motley Fool's Healthcare Analyst, I specialize in Pharma, Biotech, and how the ACA (Obamacare) is changing the business of healthcare in America. Follow me on Twitter for breaking stock news, policy thoughts, and misc musings... Follow @motleydavid
- Dec 18, 2012 at 4:14PM
- Health Care