Neuroone Medical Technologies plunges after FDA denies its application

Neuroone Medical Technologies

28/03/2022 15:21

** Medical device maker's shares  NMTC.O  sink 45% to $1.22 
    ** NMTC late on Friday disclosed that the U.S. Food and Drug
Administration had denied its application for its depth
electrode used to monitor brain; Co says it will file an appeal 
    ** Brokerage Craig-Hallum downgrades stock to "hold" from
"buy" and cuts PT to $2 from $6, citing opaque forward steps for
NMTC 
    ** Stock up 14% this year through Friday's close 

 (Reporting by Ankur Banerjee)