Jul. 9, 2014, 10:36 AM
- Bowing to pressure from disgruntled institutional shareholders, four members of QRxPharma's (QRXPY -2.4%) BOD resign, including Chairman Dr. Peter Farrell, prior to today's General Meeting of shareholders. The source of the discontent is management's failure to earn FDA approval for its lead product Moxduo, a combo analgesic of morphine and oxycodone. The NDA was filed in November 2013 but received a negative Ad Comm vote on April 22, 2014 and a subsequent thumbs down from the agency.