Published on September 23, 2009 at 7:53 AM
CombinatoRx, Incorporated (NASDAQ: CRXX) announced that NASDAQ has halted trading in the Company’s common stock today. The U.S. Food and Drug Administration’s (FDA) Anesthetics and Life Support Advisory Committee and its Drug Safety and Risk Management Advisory Committee are meeting today, in a public session, to review and discuss the New Drug Application (NDA) of Neuromed Pharmaceuticals, Inc., a privately-held biopharmaceutical company, for Exalgo™ (hydromorphone HCI extended release) tablets, for the management of moderate to severe pain in opioid tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time. CombinatoRx and Neuromed entered into a definitive merger agreement on June 30, 2009 for a merger transaction which is expected to close during the fourth quarter of 2009.
The U.S. rights to Exalgo™ were acquired by Mallinckrodt Inc., a subsidiary of Covidien on June 11, 2009.
Source: CombinatoRx, Incorporated