Today after the bell, #fakeinnovation company Zogenix (ZGNX) announced that the FDA issued a “Refusal to File” letter for their recent NDA for “Fintepla“. This is absolutely the correct decision. Why?
Because Fintepla is not a new drug at all. It is #fakeinnovation. Fintepla is just a new brand name for a very dangerous drug that was taken off the market in 1997 for causing horrific heart valve problems in adults. That drug? Fenfluramine, aka Pondimin, aka the “Fen” in “Phen-Fen“.
Somehow the idiots at ZGNX thought 22 years later nobody would remember, and it would be a good idea to repurpose the drug and offer it to children. Guess not.
And the bigger idiots, of course, are the sycophantic sell side shills, like this moron, Danielle “Shill” Brill from Piper Jaffray.
After news like this she drops her price target from $72 all the way down to $68. As we say here at BuyersStrike! HQ, “hoes gots to eat too!”
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