Shares in Pacira Pharmaceuticals (NSDQ:PCRX) fell nearly -16% today after a panel of experts convened by the FDA voted against an expanded use for Pacira’s injectable pain drug.
The pharmaceutical company previously submitted an application seeking to use the local anesthetic as a regional pain-killer.
The committee’s feedback doesn’t necessarily mean the immediate end for Pacira’s pitch – the FDA will take the vote into consideration as it makes a final decision for the expanded indication.
“We remain confident that the data from our clinical program provides all of the necessary information to support expansion of the current Exparel label for infiltration to also include use as a nerve block for regional analgesia,” Pacira’s chairman & CEO, Dave Stack said in prepared remarks.
“We look forward to working with the FDA to address any outstanding questions as we move through the sNDA review process toward our ultimate goal of offering additional flexibility in the way Exparel can be administered so that clinicians and patients alike have increased opportunity to realize the benefits of long-lasting non-opioid pain control.”
PCRX shares were trading at $30.60 apiece in mid-afternoon activity today, down -15.2%.
