Monday, January 18, 2010

Is Clock Winding Down at Somaxon Pharmaceuticals?

The fate of Somaxon Pharmaceuticals (SOMX-$1.44) and its investigational drug Silenor (doxepin) rests with the Food and Drug Administration. Management will meet with the FDA on January 20 to seek clarity as to what additional steps — if any — need be taken by the company to move forward with commercial development of its oft-delayed treatment for insomnia.

Irrespective of the outcome of this meeting, however, an analysis of the drug developer’s financial statements suggests that future prosperity actually rests in the hands of its investment bankers….and their pocket watches are ticking….

Read More at BNET Pharma….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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