Investor Alert

New York Markets After Hours

Market Pulse Archives

June 19, 2019, 9:25 a.m. EDT

Melinta Therapeutics' stock rockets on heavy volume after FDA accepts sNDA for Baxdela

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Melinta Therapeutics Inc. (MLNT)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Melinta Therapeutics Inc. /zigman2/quotes/201002965/composite MLNT -4.78% more than doubled (up 128%) on heavy volume Wednesday, after the antibiotics developer said its supplemental new drug application (sNDA) for Baxdela was accepted by the U.S. Food and Drug Administration. Trading volume spiked to over 4.7 million shares, compared with the full-day average of about 334,000 shares through Tuesday, and enough to make the stock the most actively traded ahead of the open. The company said the FDA has granted "priority review" status for Baxdela, in which the sNDA seeks to expand the current indication to include adult patients with community-acquired bacterial pneumonia (CABP). "BAXDELA's potency and activity against the most common bacterial pathogens seen in CABP indicate it could play a significant role in the treatment of this life-threatening illness, if approved," said Melinta Chief Medical Officer Sue Cammarata. "We look forward to working with the FDA to help evaluate bringing this potential option to people with CABP as soon as possible." The stock has tumbled 50% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.28% has gained 16%.

US : U.S.: Nasdaq
$ 4.38
-0.22 -4.78%
Volume: 330,712
Oct. 17, 2019 4:00p
P/E Ratio
Dividend Yield
Market Cap
$63.25 million
Rev. per Employee
+8.26 +0.28%
Volume: 1.61B
Oct. 17, 2019 4:20p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.