Why Aquestive Therapeutics Dived by 29% Today

Aquestive Therapeutics (NASDAQ: AQST) was one of the steeper decliners among biotech stocks Tuesday. The company's shares plummeted more than 29% on a rather discouraging piece of news about one of its top drug candidates.

Late Monday night, Aquestive disclosed that it had received notification from the Food and Drug Administration (FDA) regarding its Libervant Buccal Film pipeline drug. The regulator told the company that it is delaying the review of Aquestive's New Drug Application (NDA) for Libervant. This is a treatment targeting breakthrough seizures and seizure clusters suffered by those afflicted by epilepsy.

Image source: Getty Images.

Continue reading

Source Fool.com