Chicoine concluded, “We are pleased that the FDA has approved this product for patients suffering from the pain of osteoarthritis of the knee.”

 

Not everyone was pleased however as stock fell from the initial positive spike in anticipation of the news to 21% under. Some investors were vocal with their displeasure, accusing management of fumbling the ball bringing products to market, naming the fact that Nuvo had taken three attempts to gain FDA approval for Pennsaid 2% as an example of the executive's incompetence.

 

Conversations grew heated on the Stockhouse bullboards as accusations of mismanagement and outright chicanery were lobbed at the current executive and employees. Some longtime investors even claimed executive family members and company employees were falsely seeding the discussion with praise and support for the current company leadership and corporate direction.


Read more at https://www.stockhouse.com/opinion/independent-reports/2014/01/17/nuvo-research-s-t-nri-shareholders-react-to-latent-fda-approval-%E2%80%93-stocks-slip-21#q9IhrxHVf6Fs9VAY.99