Shares of Ocular Therapeutix Inc. lost a quarter of their value in the extended session Tuesday after the Food and Drug Administration told the drug maker it could not approve a marketing application for an eye-pain drug in its current form. Ocular Therapeutix shares, which had been halted at $7.55, dropped 26% to $5.60 after hours, following a 17% gain during the regular session. Tuesday’s regular-session gain followed the company’s announcement late Monday that it had amended a marketing application for its drug Dextenza to address FDA concerns with its manufacturing process.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News