Investors cheered the news of the FDA's approval of MiddleBrook Pharma's once-daily, 775 milligram Moxatag Tablets for strep throat by tripling the value of its shares. Its stock soared $2.30 to $3.55, moving the company's capitalization from $58 million to $171 million. A late-stage trial of Moxatag demonstrated that it worked as well as a regimen of penicillin for eradicating bacteria that causes strep. It will soon become the only once-daily amoxicillin therapy on the U.S. market. The approval did come with a catch: MiddleBrook will continue to investigate the drug's impact on children under the age of 12.
- check out the release
- read the AP report