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 (VRX +2.24%) is seeking FDA approval for? In this video, health care analyst Max Macaluso breaks down this news.
The drug met its primary endpoint - so why the drop?
About the Author
Max is the Technology, Biopharma & Health Care Bureau Chief at Fool.com. Prior to joining the Fool, he completed a PhD in chemistry at the University of Cambridge and an MBA at the College des Ingenieurs.
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