Gilead's NDA for ambrisentan damages Encysive shares

With its NDA for Thelin hung up at the FDA, Encysive saw its stock price slip after Gilead announced that the agency had accepted its application for a competing pulmonary arterial hypertension drug, ambrisentan. The FDA is giving ambrisentan a priority review. Analysts criticized Encysive for losing its lead over ambrisentan. Thelin has been approved in Europe but its FDA application has been delayed a by year.

- here's the AP report on the competition