Vanda Pharmaceuticals (VNDA -1.6%) dips after receiving a thumbs down from the European Medicines Agency's Committee for Medicinal Product for Human Use recommending against the approval of VNDA's schizophrenia treatment, Fanaptum. The agency says, in a nutshell, the benefits didn't outweigh the risks. The drug developer says it intends to appeal and request a re-examination of the decision.
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