Northfield Laboratories (fka NFLDQ)

[xe2dy]

UPDATE 1-Northfield's red blood cell drug granted fast review
Tue Dec 30, 2008 9:58am EST

Dec 30 (Reuters) - Northfield Laboratories Inc (NFLD.O) said U.S. regulators have granted a priority review for the company's experimental treatment for the loss of red blood cell, sending its shares to a new-year high.

Shares of the company more than doubled to $1.21 in morning trade on Nasdaq. They closed at 56 cents Monday on Nasdaq.

On Oct. 29, the company submitted a Biological License Agreement (BLA) for PolyHeme, its human hemoglobin-based red cell substitute.

Under the priority review, which is granted to products that are considered to be more advanced over existing therapies, the Food and Drug Administration takes shorter time, usually six months from the date of submission of the application, to make its decision.

The company expects for an FDA decision on the PolyHeme BLA by April 30, 2009. (Reporting by Anand Basu in Bangalore; Editing by Jarshad Kakkrakandy)

http://www.reuters.com/article/marketsNews/idINBNG38286120081230?rpc=44

My Comment: I know that this is old news, but it looks like a decision won't be made for another four months. Buying a 1000 shares Friday as a lottery ticket.