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Clinuvel Pharmaceuticals – Minimal Concerns Over FDA Delay

Investors were quick to drop Clinuvel shares after an update on the Prescription Drug User Fee Act (PDUFA) goal date for its SCENESSE product. However, analysts at Moelis note that while any delay around FDA approval is disappointing, it's likely only a timing issue.

Clinuvel Pharmaceuticals has announced that the US Food and Drug Administration (FDA) Division of Dermatology and Dental Products has set a new Prescription Drug User Fee Act (PDUFA) goal date of 6 October 2019 to provide it with more time for a full review of the submission of its SCENESSE® scientific dossier.

Analysts at Moelis note that while any delay around FDA approval is disappointing, given it will push back first sales in the US by at least 3 months, they are not concerned that the hold up is a sign of anything sinister. Rather its likely only a timing issue.

For full details click here to download the research report.

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