BeaconEquity.com: Somaxon (SOMX) Shares Spike on FDA Feedback
Shares of Somaxon Pharmaceuticals Inc., a specialty pharmaceutical company, opened sharply higher in today’s trading after the company announced FDA feedback on the over-the-counter (OTC) development program for Silenor®. At last check, Somaxon shares were trading 13.75% higher at $0.91. Somaxon said that in a recent meeting with the FDA, which was also attended by Silenor partner Procter & Gamble (NYSE: PG), the agency provided clinical and regulatory guidance that offers a clear path toward an OTC version of Silenor. The company believes that the FDA’s feedback offers a chance to develop an OTC label that is tailored to Silenor’s…