Cempra's stock down over FDA rejection

Stocks of Chapel Hill-based Cempra sank Thursday morning after the U.S. Food and Drug Administration rejected its pneumonia drug. By late morning, stocks were trading for about $2.65 per share – down 56 percent from Wednesday’s close. The stock price is a far cry from the company’s 52-week high of $32. The company’s shares had been trading in the $20 range until they fell sharply in November following an FDA advisor y panel review on its drug solithromycin, which aimed to treat community-acquired…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news