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NVS - XOMA down 14% on FDA rejection of CV claim for canakinumab by licensee Novartis
Novartis AG
Thinly traded micro cap XOMA (XOMA-14%) is down on almost 50% higher volume, albeit on turnover of only 129K shares, in apparent reaction to Novartis' (NVS+1%) disclosure that it received a CRL from the FDA (Q3 report, page 6) in response to its application seeking a cardiovascular risk reduction claim for ACZ885 (canakinumab).
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