LOS ANGELES, Feb 12 (Reuters) - Savient Pharmaceuticals Inc said on Thursday the U.S. Food and Drug Administration has extended by three months its review of the company's experimental gout drug, sending the company's shares down 29 percent.
The agency's new deadline for deciding on the application is July 30, the company said.
Shares of Savient, which rose 7.8 percent to close at $7.30 on Nasdaq, dropped to $5.20 after hours.
(Reporting by Deena Beasley; editing by Richard Chang) Keywords: SAVIENT/ (deena.beasley@thomsonreuters.com; 1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The agency's new deadline for deciding on the application is July 30, the company said.
Shares of Savient, which rose 7.8 percent to close at $7.30 on Nasdaq, dropped to $5.20 after hours.
(Reporting by Deena Beasley; editing by Richard Chang) Keywords: SAVIENT/ (deena.beasley@thomsonreuters.com; 1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.