Acer Therapeutics hits over 2-yr low as FDA declines to approve drug

Acer Therapeutics

21/06/2022 16:19

** Acer Therapeutics' shares  ACER.O  slump as much as 14.8%
to an over two-year low of $1.50 in morning trade 
    ** Says U.S. FDA declined to approve co's application for
approval of experimental drug candidate ACER-001 for treatment
of patients with urea cycle disorders, citing the need to
inspect a third-party contract packaging manufacturer
 urn:newsml:reuters.com:*:nGNX1BcYcY
    ** Co adds FDA did not cite any other issues pertaining to
the application, nor request any additional studies but sought
additional existing non-clinical information
    ** Actively working with contract manufacturer to address
FDA's issues and plans to resubmit application in early-to-mid
Q3
    ** Stock now down by a third YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))