ITMN Down ~80% Following Complete Response Letter on Esbriet
The worst percentage slide because February has set the S&P 500 at a one month low and just above its 50-day moving average. Volatility spiked to more than a two-month high as a result. After the close, CEPH, CHK, DGI, ESLR, FRPT, LOPE, IPI, MYGN, OPEN, PEET, TRLG, USU, XL are some of the most notable names that reported after the close.
After hours, ITMN is trading 79.3% lower at $9.43. In corporate news, ITMN reported the company received an FDA total response letter on Esbriet (Pirfenidone) NDA. The company said it intends to meet with FDA to explore best ways to address points. ITMN said the company received an FDA complete response letter for its drug Esbriet’s NDA for one or more reasons, and the FDA has requested an additional clinical to support efficacy.
Futures are mixed lower hours with S&P 500 futures 1.19 points below fair value of 1170.39 and Nasdaq 100 futures 0.63 points above fair value of 1966.87
All ten sectors were in negative territory, led by Materials (-3.5%), Industrials (-3.3%) and Consumer Discretionary (+2.9%).
Tomorrow morning, one economic report is scheduled to be released before the open: ADP Employment Change.
Tomorrow before the open, of the many companies scheduled to report, some of the bigger names include: AGU, ANR, CLH, FWLT, FCN, KG, ID, MED, PKD, PHM, Q, UPL, and WCG.
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