On Dec. 29, 2016 -- Innocoll Holdings(NASDAQ:INNL) announced that it has received a Refusal to File letter from the FDA for XARACOLL, the company's product candidate for the treatment of postsurgical pain.
Inotek Pharmaceuticals has dropped from $1.77 to $0.69, down 61.02% on the day.
About Innocoll Holdings plc
Innocoll is a global, specialty pharmaceutical company with late stage development programs that is dedicated to engineering better medicines to help patients get better. Their proprietary, biocompatible, and biodegradable collagen products are precision-engineered for targeted use. Applied locally to surgery sites, they are designed to provide a range of benefits. The company's late stage product pipeline is focused on addressing large unmet medical needs, including: XARACOLL for the treatment of postsurgical pain and COLLAGUARD (INL-003), a barrier for the prevention of postsurgical adhesions. For more information, please visit www.innocoll.com.
XARACOLL is a surgically implantable and bioresorbable bupivacaine-collagen matrix that utilizes their CollaRx proprietary collagen-based delivery technology and is being developed to provide sustained postsurgical pain relief directly into the surgical site. XARACOLL is also designed to reduce the need for systemic opioids and their associated risks.