Why Recro Pharma's stock price plunged more than 34% today

Recro Pharma's stock price plummeted more than 34 percent to $6.41 per share Monday, the first day of trading after the Food and Drug Administration's rejection of the Malvern pharmaceutical company's new drug application for a non-opioid pain medicine. On Friday, the FDA voted against granting marketing approval to Recro for its intravenous meloxicam drug to managed moderate-to-severe pain. The FDA initially rejected the company's new drug application for the medicine last year. Recro (NASDAQ:…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news