Chelsea Wins U.S. Panel’s Backing for Fainting Drug
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Chelsea Therapeutics International Ltd.’s shares almost doubled after winning the backing of U.S. advisers for a drug to prevent sudden drops in blood pressure, a boost for the company’s effort to bring its first product to market.
Chelsea climbed to $4.41 at the close in New York in its the largest one-day increase since Feb. 20. An advisory panel yesterday voted 16-1 to recommend U.S. regulatory approval for the drug, called Northera, in patients with nervous system disorders. A final ruling may come from the Food and Drug Administration by Feb. 14.