Nuvo Pharmaceuticals Inc (MRV)

[dkspartan1]

They received a CRL back in 2006, requesting additional safety studies. If I remember correctly, it was this requested data that extended the review for 90 days. In total, I think this is the 3rd or 4th time they have tried to gain approval.

As far as post approval price is concerned, I think the intraday high will be around $1.20-$1.30 and then settling just under a dollar. $3.00 a share would be around 1 billion in sales. Not there yet. It will get there and probably above, but not until 4Q next year.

Bottom line...they received an approvable letter and completed the task requested in letter. It not gaining approval this week would be most surprising. GLTA