TITLE

NexMed Shares Fall Hard as Novartis Nixes NDA

AUTHOR(S)
Hollingsworth, Catherine
PUB. DATE
August 2008
SOURCE
BioWorld Today;8/28/2008, Vol. 19 Issue 168, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on a decline in the value of NexMed's shares by 81.6% after its partner, Novartis AG, decided not to file for a new drug application for a topical nail fungus product that uses NexMed's drug delivery technology. Such decision by Novartis was attributed to a negative Phase III study results for the product. As a result, NexMed will not be able to get a $6 million in payment which it would suppose to receive for successful Phase III data.
ACCESSION #
34073849

 

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