Discovery Laboratories Inc.,DSCO
COMPANY NEWS
Shares of Discovery Laboratories Inc. fell to their lowest point in a decade Thursday after the company said a Food and Drug Administration review standard places the approval of Surfaxin in doubt. The stock plunged 50 cents, or 48 percent, to reach 55 cents in afternoon trading, but earlier fell as low as 46 cents, marking a 10-year low point. The company has been trying to gain approval for Surfaxin, aimed at treating respiratory distress syndrome in infants. The FDA has made several requests for more information, with the last focused on the test used to determine the drug's shelf-life and whether the commercial product would be comparable to the product used in the studies.
COMPANY INFORMATION
Discovery Laboratories, Inc., a biotechnology company, engages in developing surfactant replacement therapies (SRT) to treat respiratory disorders and diseases. The company's proprietary technology, KL4 Surfactant Technology, produces a synthetic, peptide-containing surfactant that is structurally similar to pulmonary surfactant. Its products include Surfaxin, a synthetic, peptide-containing surfactant for use in pediatric medicine; Surfaxin (lucinactant) for the prevention of respiratory distress syndrome (RDS) in premature infants; and Aerosurf, which is a KL4 Surfactant in aerosolized form to treat premature infants at risk for RDS.
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