Acura Gets FDA Slap (ACUR, KG)

Posted in pre-market 
April 23rd, 2010

Acura Pharmaceuticals Inc. (NASDAQ: ACUR) is getting crushed this morning after an FDA advisory panel recommended that the FDA not approve its new opioid painkiller Acurox. Its partner King Pharmaceuticals Inc. (NYSE: KG) is also down on the news.  Average volume in Acura is only 130,000 shares and the 52-week trading range was $4.00 to $9.13.

Acura is down 37% at $3.70 on about 175,000 shares as of 9:27 AM EST.  King was indicated lower but is now flat at $11.10 on very thin volume.


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