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Transcept Pharmaceuticals (TSPT -40.6%) shares plummet after the company says it expects to...

Transcept Pharmaceuticals (TSPT -40.6%) shares plummet after the company says it expects to receive a rejection letter from the FDA concerning its new drug application for insomnia treatment Intermezzo. The agency expressed concerns about the safety of the drug during a Tuesday conference call, the company says.
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