Encysive Pharmaceuticals has won another big boost after seeing its stock plunge several months ago when the company received an FDA approvable letter for Thelin, an experimental drug for pulmonary arterial hypertension (PAH). The agency has accepted Encysive's response to the agency's query and agreed to give Thelin a Class 1 review, allowing for a final decision on the therapy by July 24. Last week, European regulators recommended Thelin for approval, helping the biotech's stock rebound after taking a beating in the spring. Encysive is in a race with Myogen to get a new therapy on the market for PAH. Encysive's shares shot up about 40 percent on the news of the FDA's actions.
- read this report on Encysive from TheStreet.com