SPPI dropped today and dipped down all the way to 4.92 (-.96) but bounced back a little by the end the day on 6/23/09 to close at 5.24 (down .64 or 10.88%). Seems like many pharms were dragged down today. My guess is that it could be due to ACUR's PR about an FDA decision delay and that the FDA's preliminary review letter shows that ACUR's drug most likely won't be approved. I believe this news is what dragged down all speculative FDA approval plays. I am still optimistic about this play, however, we are now at a loss from our initial entry of 5.35.

Awaiting the FDA decision for the first drug by 7/2/09 and the second drug by 10/8/09.

FDA plays are highly risky, so if you have enough profit (or loss), take it. You never know what will happen.

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