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MLNT - Melinta Therapeutics: sNDA Acceptance Triggers 200% Gain
Melinta Therapeutics Inc - Ordinary Shares
On June 19th, 2019 Melinta Therapeutics (MLNT) announced the FDA accepted its BAXDELA sNDA for priority review. This sNDA would expand BAXDELA's label to include adult patients with community-acquired bacterial pneumonia (CABP). The FDA gave BAXDELA a 6-month review cycle and a PDUFA date of October 24th. Melinta traded up over 200% on June 19th after the company press release, which caught me a bit off guard. Typically, when a stock rises this much, it is due to a potential buyout or a pump dump. It took to the