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Biotech / Medical : CRXX-Combinatorx

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To: rkrw who wrote (91)	9/24/2009 8:08:44 PM
From: mopgcw	of 100

Decision postponed I guess... Drug developer CombinatoRx Inc. said late Wednesday that regulators will issue a decision Nov. 22 on whether to approve the company’s new drug application for its pain medication Exalgo. U.S. Food and Drug Administration officials reviewed the new drug application Wednesday, prompting the Nasdaq Stock Market to take the rare step of halting trading of CombinatoRx stock for the day. Exchange officials said the move was prompted by the potential release of information that could materially effect the company’s stock. The application seeks approval for Exalgo to be used around-the-clock by patients with moderate-to-severe pain and tolerance to other traditional pain medications. Cambridge, Mass.-based CombinatoRx said the drug was developed by Canada-based Neuromed Pharmaceuticals Inc. and is owned, from a licensing standpoint, by Mallinckrodt Inc., the pharmaceutical division of international health care giant Covidien Plc. In June, CombinatoRx and Neuromed agreed to merge. The deal is expected to close before Jan. 1

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