Peninsula drug developer's stock plunges, but its antibiotic still could win FDA approval

Investors shaved nearly a third of the value off a South San Francisco drug maker's stock in after-hours trading Wednesday following an FDA advisory committee's split decision on approving the company's infection-fighting therapy. The panel voted unanimously in favor of recommending that the Food and Drug Administration approve Achaogen Inc.'s (NASDAQ: AKAO) plazomicin for use in urinary tract infections, but it voted 11-4 against endorsing the drug's use as a last option for patients with bloodstream…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news