Basilea Pharmaceutica Falls on FDA Request for Two Drug Trials; Stock Drops -3.35% on Thursday at Market Close (August 22, 2013)

Published: Aug 22, 2013

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Basilea Pharmaceutica AG (BSLN), a Swiss developer of an antibiotic to treat pneumonia, fell the most in two months after the company said U.S. regulators want two trials of the drug before they consider granting approval. Basilea shares fell as much as 7.7 percent, the steepest intraday drop since June 20, and were down 5.9 percent at 74.15 Swiss francs as of 1:19 p.m. in Zurich. Before today the stock gained 93 percent this year, including reinvested dividends, compared with the Swiss Performance Index’s 19 percent advance.

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