Seeking Alpha

Chelsea Therapeutics stock halted ahead of crucial meeting

  • Shares in Chelsea Therapeutics (CHTP) have been halted ahead of a second meeting of an FDA advisory board over the company's Northera treatment for hypotension.
  • A meeting in February 2012 voted 7-4 to recommend approving the drug, but the FDA rejected the therapy anyway.
  • The latest panel comes after the agency accepted an appeal from Chelsea Therapeutics.
Comments (9)
  • Mking30
    , contributor
    Comments (137) | Send Message
    And why do they halt the shares again? Because its getting killed here in the last few days or something else?
    14 Jan, 10:20 AM Reply Like
  • jb1201
    , contributor
    Comments (10) | Send Message
    So who halted the trading? The exchange? SEC? Is this a normal practice to halt trading because of an FDA decision?
    14 Jan, 10:29 AM Reply Like
  • dhdhoora
    , contributor
    Comments (349) | Send Message
    I suspect market makers asked for the halt. Today is somewhat of a 'binary' decision day for the company. If the panel does not recommend going forward, the company is probably toast. If the panel votes to go forward, CHTP still faces the FDA next month. So, impossible to find a price today.


    All the very best,
    14 Jan, 10:35 AM Reply Like
  • jb1201
    , contributor
    Comments (10) | Send Message
    Thank you dhdhoora.
    14 Jan, 12:33 PM Reply Like
  • hneumann
    , contributor
    Comments (549) | Send Message
    "So, impossible to find a price today".


    Why ? If the company is toast, price will go direction to 0, if panel decision is not negative shares probably soar, so what ?
    14 Jan, 01:19 PM Reply Like
  • naudyotam
    , contributor
    Comments (2) | Send Message
    Do not panic yet. Today is chtp's day to hit high. Buckle up your sit belts for take off.
    14 Jan, 01:47 PM Reply Like
  • trader182
    , contributor
    Comment (1) | Send Message
    This is normal when it comes to a biotech company. The company will not be toast. They do sell the drug in a variety of other countries. Check out--Biotechs with near-term catalysts that should rally--by Seeking Alpha
    14 Jan, 02:26 PM Reply Like
  • joenjensen
    , contributor
    Comments (637) | Send Message
    Seems like a good stock to me after I saw the after hours gain, it went up to 5.62 that perked my interest, I will have to watch it very close before I commit any funds.
    14 Jan, 07:11 PM Reply Like
  • MrHexusThe1
    , contributor
    Comments (25) | Send Message
    Wow they really take off after being halted and released on positive news. The lotto trades won huge on this one.
    14 Jan, 09:58 PM Reply Like
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