FDA Advisory Committee Slams Nektar's New Opioid Drug

Nektar Therapeutics (NASDAQ: NKTR) is down 17% in early trading after a joint advisory panel for the Food and Drug Administration unanimously voted down the company's opioid medication, oxycodegol, yesterday. While the FDA is not obligated to follow the advice of its independent panels, it would be highly unusual in this case, as nobody on the committee thought the drug should be approved.

Hours after the ruling, Nektar said the company was withdrawing its new drug application and discontinuing its program for the drug.  

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Source Fool.com