Questcor continues plunge; FDA reviewing Citron-backed lab tests

The FDA tells Bloomberg it's reviewing the lab tests of Questcor's (QCOR -8.8%) Acthar gel discussed by Citron Research in a 24-page report published yesterday. Citron claimed the tests showed almost no detectable amounts of the hormone ACTH, which Questcor has said it believes is the primary active ingredient within Acthar.

Shares are now down 17% from Wednesday's close.

From other sites
Comments (20)
  • p46villegas
    , contributor
    Comments (22) | Send Message
    B &$@&$ T
    28 Feb 2014, 10:31 AM Reply Like
  • Pursuing Financial Freedom
    , contributor
    Comments (46) | Send Message
    Very sad Seeking Alpha would post something like this without a source. I also like the mention of 17% down from Wednesday's close. Classic.
    28 Feb 2014, 11:37 AM Reply Like
  • Quoth the Raven
    , contributor
    Comments (2063) | Send Message
    Do you have a source link for the FDA statement? Thanks in advance.
    28 Feb 2014, 10:32 AM Reply Like
  • BuyToSell
    , contributor
    Comments (481) | Send Message
    Citron doesn't even have to be right. They can just drive the stock down long enough to close a quick short.
    28 Feb 2014, 10:38 AM Reply Like
  • valueone
    , contributor
    Comments (17) | Send Message
    Buy to sell is right. Large funds heavily invested; price targets being increased.Citron not releasing lab or attorney's name probably afraid of lawsuit. They could Know that their (Citron's) results will not stand, but they will drive the price down, close their shorts and make a ton.Not the time for longs to panic. Buy on panic.
    28 Feb 2014, 11:02 AM Reply Like
  • User17576362
    , contributor
    Comments (16) | Send Message
    What is the source for the FDA statement?
    28 Feb 2014, 11:06 AM Reply Like
  • mfrankle
    , contributor
    Comments (2) | Send Message
    The FDA site has nothing about this. And QCOR has not filed an 8-K indicating a material event that the FDA is reviewing their one product. Does this headline have any evidence to back it up?
    28 Feb 2014, 11:06 AM Reply Like
  • Sandy Eggo
    , contributor
    Comments (92) | Send Message
    It's not a significant event at this point, it would not behoove them to file an 8-K. Did QCOR file an 8-K when the DOJ and SEC began investigating them recently?
    28 Feb 2014, 12:06 PM Reply Like
  • D Reed
    , contributor
    Comments (60) | Send Message
    Ladenburg Thalmann raises PT after Citron report:
    28 Feb 2014, 11:06 AM Reply Like
  • dieuwer
    , contributor
    Comments (2946) | Send Message
    I just send an email to the FDA asking for clarification. Will report back when I have an answer.
    28 Feb 2014, 11:10 AM Reply Like
  • dieuwer
    , contributor
    Comments (2946) | Send Message
    Got a reply from the FDA re: $QCOR Actha vs. Citron. Told to submit a Freedom of Information Act request.
    28 Feb 2014, 01:52 PM Reply Like
  • Grant Payne
    , contributor
    Comments (337) | Send Message
    Hahaha let sweet, sweet justice be done!
    28 Feb 2014, 11:14 AM Reply Like
  • Hoang6
    , contributor
    Comments (358) | Send Message
    This stock follows a pattern, everybody knows that, make money when you can. However, the questions to ask are: "Is this new Citron report (which I did not bother to read) the same as the one when the stock went down from 50 to ~18 (just to went back up higher)?" and "Why this thing always happen after earning? Why not before that? Did they pump the stock to 80 in order to short now?"


    Many (so called) investors here have so short memory and over react to almost everything. This stock is worth somewhere between 65-70 at the moment, 80 was the result of pumping prepared for dumping.


    To those who is new: buy on fear, ride the wave, and get out before earnings!
    28 Feb 2014, 11:25 AM Reply Like
  • Mongoose7916
    , contributor
    Comments (233) | Send Message
    If you get out before earnings you will miss the huge gap up one of these times. Better advice would be to sell to your comfort level before earnings but make sure you keep something on the table. I don't think most people realize just how close QCOR would be to 90 or 100 right now if they would have beat on revenues and done something like 1.80 or 1.85 in earnings. The thing is when QCOR reports earnings they cant just be in-line or close to in-line they have to have a big beat.
    28 Feb 2014, 01:11 PM Reply Like
  • drdon
    , contributor
    Comments (215) | Send Message
    The whores of Wall St. at work. We all know the names of the gang of thieves, probably led by that TV "personality". Certainly many are his disciples with the possible exception of Left who has 2 convictions for security fraud. Would you buy a used car from this guy?
    28 Feb 2014, 11:26 AM Reply Like
  • monkey see
    , contributor
    Comments (617) | Send Message
    FDA just announced recall of Citron. Very bad for your wealth.
    28 Feb 2014, 11:55 AM Reply Like
  • smitsky
    , contributor
    Comments (348) | Send Message
    This is getting more and more ridiculous by the moment. Where is the proof Seeking Alpha? Show us proof that the FDA is investigating if you are going to report this and it is indeed true. Post your valid source!
    28 Feb 2014, 03:02 PM Reply Like
  • KarlEngelman
    , contributor
    Comments (4) | Send Message
    As a retired professor of medicine who used this drug ffectively, both experimentally and clinically about 50 years ago, this whole ballyhoo about the clinical virtues of ACTHA gel for the alleged uses has had the stench of fraud and scam from the very beginning. I'm not talking about the fact that the product is now shown to be devoid of the alleged active agent , ACTH, but the fact that authentic ACTH, if present, at $20,000/dose has the same efficacy as the use of readily available generic oral corticosteroids at a cost of $0.10- $0.50/day. Figure it out and get out while you can, no matter what the loss! This will make Bernie Madoff look like Mickey Mouse!!!
    28 Feb 2014, 04:04 PM Reply Like
  • WindyDay
    , contributor
    Comments (5) | Send Message
    Note that the FDA is not reviewing anything except for what was sent to them, as they have to do with all things that are sent to them - As they review each and every letter that is sent to them. It is procedural, nothing more, and should not be adding credibility to the BS Citron report.


    Thanks for the email. Bloomberg News does not publish emails from any of our sources, so I'm afraid all we can say is what we've written, that is:
    "FDA says in e-mail that agency has received letter, lab test results from attorney as mentioned in earlier Citron Research report and is reviewing them."
    28 Feb 2014, 04:57 PM Reply Like
  • Mongoose7916
    , contributor
    Comments (233) | Send Message
    Exactly shorts keep offering suggestions and coulda woulda shoulda's but where is the beef? They have no proof yet! I'll sell my shares when they offer some substantial proof instead of the rinse and repeat attacks they like to see dominate the headlines. Every piece of new short evidence provided requires me to take their word for it. Offer some verifiable proof of the claims and I'll take them seriously but it is ridiculous that so many people fall for these shenanigans so often. If it takes you longer than a minute to try to verify these stories on the web then clearly the news is immaterial and only in the public to drive people's imaginations from the suggestions of the headlines.
    28 Feb 2014, 05:23 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs