Santhera Plummets 35% After FDA Denies Accelerated DMD Drug Approval

Santhera Pharmaceuticals Holding AG shares dropped 35.09% in early morning trade Thursday after the Food and Drug Administration denied the company accelerated approval for its Duchenne muscular dystrophy drug. The decision means the company will have to redo a phase 3 trial for the drug, which will likely take several years. Duchenne muscular dystrophy currently has no treatment.