Intrigue Around FDA Decision on Cempra’s (CEMP) Antibiotic
Shares of Cempra, Inc. (Nasdaq:CEMP) are trading in negative territory by 3.63% (or -$0.22) at $5.97 on Tuesday, ahead of the U.S. Food and Drug Administration’s (FDA) target date to make an approval decision on the company’s solithromycin (December 27 and 28, 2016 for the oral and IV intravenous formulations, respectively).
Last month, an FDA panel voted (7-6) that efficacy results of solithromycin – a highly potent macrolide – outweighed its potential safety problems for the treatment of community-acquired bacterial pneumonia.
Cempra, which focuses on developing antibiotics to meet medical needs in the treatment of bacterial infectious diseases, has 52.38M shares outstanding and CEMP stock 52-week range is from $5.70 to $32.31 per share
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