BUZZ-Acasti Pharma Inc: FDA gives positive feedback on lead drug

Wed Dec 16, 2015 1:07pm EST
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** Drugmaker's U.S.-listed shares surge 60 pct to $2.57 in heavy trading, set for best day since debut

** FDA gives positive feedback to the proposed development pathway of Acasti's lead drug, CaPre, to treat high levels of triglycerides that can cause heart disease

** Company's proposed application uses data from studies iit did not conduct and relies on findings available on another FDA-approved drug

** Such applications result in much less costs and a faster route to drug approval, compared to a traditional development path

** Acasti will also conduct another study to compare CaPre with another FDA-approved prescription drug to establish scientific difference between the two

** About 1.3 mln shares traded, about 60 times 25-day avg

** Up to Tuesday's close, stock had fallen about 68 pct this year