These days, Neoprobe Corporation (OTC:NEOP) stock is losing value in expectation of the pre-NDA submission and of the speculative interest. For four consecutive trading sessions, NEOP stock pulls back on a heavy volume.Yesterday, NEOP returned back by 4.79%, closing at $1.79. During the trading session, 173 thousand shares changed hands. This was more than twice the average trading volume for the company.
Last Monday, in its press release about the presentation of the company’s lead pipeline initiative Lymphoseek at the International Symposium on Technetium and Other Radiometals in Chemistry and Medicine (TERACHEM), NEOP made also an update on the New Drug Application (NDA).
NEOP stated, that the FDA has confirmed the meeting in the early October to review the pre-NDA submission and the company expects to file the NDA within weeks after the anticipated successful outcome of the final pre-NDA meeting.[BANNER]
According to NEOP’s plans about its investigations new drug Lymphoseek, the preparations for the NDA have come to the point where the company expected to be in the position to file the NDA prior to the end of the quarterly period ending September 30, 2010.
Looks like the postponing of the long expected filing of the NDA was not appreciated by investors.
In addition, the fact that half of the total volume traded during yesterday’s session was realized by speculators had maybe also some input in NEOP’s collapse. Within a week and with no significant for the company news, apart from the press release about TERACHEM, NEOP stock lost 10% of its value.
