NexMed, Inc. (NEXM) Shares Plunge on Decision not to Submit New Drug Application for NM100060
NexMed, Inc. (NASDAQ: NEXM), an innovative drug developer that is leveraging its proprietary drug delivery technology to develop a significant pipeline of innovative pharmaceutical products to address a host of medical needs, recently announced the company’s decision not to submit a New Drug Application (NDA) for NM100060. Shares of NexMed, Inc. declined more than 80 percent earlier this week on the news. NM100060 is a topical application of terbinafine formulated with NexACT® for the treatment of onychomycosis (nail fungus). Based on First Interpretable Results of Phase III clinical studies for NM100060, the company has decided to not submit a NDA…