Here's Why Orphazyme Stock Is Imploding Today
Shares of Orphazyme (NASDAQ: ORPH), a clinical-stage biopharmaceutical company, are getting hammered after the Food and Drug Administration (FDA) refused to approve an application for the company's lead candidate. The FDA began reviewing an application for Orphazyme's lead candidate arimoclomol last September as a potential treatment for a rare but life-threatening disease called Neimann-Pick Disease Type-C (NPC).