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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: Tassi who wrote (13975)	9/25/2000 10:26:30 AM
From: Tassi	Respond to of 24256

Wooooo CLPA.. =DJ Cell Pathways Down -2: Shares Trade As Low As $11 ÿ 25 Sep 10:04 By Johanna Bennett Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of Cell Pathways Inc. (CLPA) plunged 61.7% after the market opened Monday on news that federal regulators refused to approve the company's new drug application for Aptosyn, its lead product. The decision by the Food and Drug Administration appears to have panicked investors in the development stage pharmaceutical company. Though the company has other drug products in development, Aptosyn was the furthest along in the development process. In March, Cell Pathways said it expected the FDA to approve the drug before August. But in a press release Friday, company officials reported that the FDA had orally notified the company that its initial review of Aptosyn, which treats familial polyposis, was completed. The company expects to receive a letter from the FDA in the next few days noting the deficiencies in its new drug application and plans to meet with the agency to discuss the matter. Cell Pathways' stock recently was trading at $11.50, down $18.50, after 3.2 million shares exchanged hands, compared with average daily volume of 444,200. The stock opened at $11.06 and fell to an intraday low of $11 in the first 15 minutes of trading. (MORE) DOW JONES NEWS 09-25-00 10:04 AM