By Denny JacobMilestone Pharmaceuticals shares sank 24% to $2.20 in premarket trading after it received a refusal to file letter from the Food and Drug Administration. The biopharmaceutical company said it received the letter over its new drug application for its etripamil nasal spray to treat a type of abnormal heart rhythm. It added that the FDA determined that the application for etripamil nasal spray as a treatment of paroxysmal supraventricular tachycardia wasn't sufficiently complete to permit a substantive review based on a preliminary review. Milestone said the FDA didn't express concerns about the nature or severity of adverse events. Write to Denny Jacob at denny.jacob@wsj.com(END) Dow Jones NewswiresDecember 26, 2023 08:39 ET (13:39 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal December 26, 2023 13:48 UTC