Akorn's stock soars after FDA approves ANDA for hypotrichosis eyelash treatment [MarketWatch]
AKORN (AKRX)
Last akorn earnings: 10/31 07:00 am
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Source: MarketWatch
Akorn's stock soars after FDA approves ANDA for hypotrichosis of eyelashes treatment Shares of Akorn Inc. AKRX, +2.22% ran up 13% in premarket trade Wednesday, putting them on track for a seventh-straight gain, after the generic drug maker said its new Abbreviated New Drug Application (ANDA) for Bimatoprost Ophthalmic Solution was approved by the Food and Drug Administration. Bimatoprost Ophthalmic Solution is indicated to treat hypotrichosis of the eyelashes. The stock had plummeted 59% on Oct. 1 to a 7 1/2-year closing low, after a court ruled in favor of Germany-based Fresenius SE & Co.'s FRE, -4.35% attempt to end its buyout of Akorn. Since then, the stock has rallied 20.5% amid a six-session win streak through Tuesday. Despite the recent gains, the stock has tumbled 80% year to date through Tuesday, while the S&P 500 SPX, -0.14% has advanced 7.7%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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