Article & Journal Resources: Neurochem shares fall after EMEA committee issues negative opinion of eprodisate

Article & Journal Resources

Neurochem shares fall after EMEA committee issues negative opinion of eprodisate
BOSTON, Dec. 14, 2007 (Thomson Financial delivered by Newstex) -- Shares of Neurochem (TSX:NRM) Inc. tumbled on heavy volume Friday after the company's Neurochem Ltd. subsidiary said that the scientific committee of the European Medicines Agency issued a negative opinion for its eprodisate drug, which is used in the treatment of AA amyloidosis.

The company said that the committee recommended refusal of the marketing authorization application for eprodisate and concluded that another study would be needed to demonstrate eprodisate's effectiveness.

Neurochem is currently reviewing all of its options in view of this opinion.

Shares tumbled 13% to $2.51 on volume of 275,757. The 30-day average volume is 214,428 shares.

Casey Logan
cl/tk1
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posted by Articles & Journal Resources at 3:15 AM

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