|Nuvo Research responds to increased trading activity|
|By Staff and Wire Reports|
|Monday, 26 October 2009 12:20|
Several of our readers asked "What is up with Nuvo Research Inc. (TSX:NRI) and their wild trading swing today?"Apparently BioMedReport readers weren't the only ones wondering. The company responded to a request from the Investment Industry Regulatory Organization of Canada on behalf of the Toronto Stock Exchange following recent trading activity of Nuvo shares.
While it is Nuvo's policy not to comment on market rumours or speculation, at the request of IIROC, Nuvo is confirming that, as previously disclosed, it anticipates receiving a decision from the United States Food and Drug Administration (FDA) on or about November 4, 2009 pertaining to the approvability of the Company's lead drug Pennsaid(R).
Nuvo has not yet received a decision from the FDA on the approvability of Pennsaid. When the Company does receive a decision from the FDA regarding Pennsaid, it will issue a press release in a timely manner.
Consistent with Nuvo's policy, it does not intend to comment on further rumours or speculation.