CHTP dead

Chelsea Therapeutics made an announcement this morning, pre-market, that they would be discussing the FDA briefing document for their drug’s (Northera) NDA upcoming Ad Comm. Amongst the issues noted in the press release is the observation that 3 deaths observed in trials might have been due to the drug! Stock is down 40% in prefmarket. Looks like my calls (which expire on Friday) will be dead in the water. I recognised that this was a risky trade going into it, but did not expect news like this so 10 days ahead of the advisory meeting.

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