Important news from Latanya

Shares of the company fell about 16 percent to $2.95 in pre-market trade. They closed at $3.50 on Thursday on Nasdaq.On Aug. 1, the company said the FDA placed a hold on two late-stage trials for the drug, in cystic fibrosis patients with Pseudomonas lung infections and patients with non-tuberculous mycobacterial (NTM) lung disease.FDA now requires the company to conduct a mid-stage study in adult NTM patients to provide efficacy and safety data, and to further revise the assessment of a rat carcinogenicity study findings.”Now that we have responses from the FDA with respect to both clinical holds, we are seeking further inputs from the agency in order to gain a better understanding of their requests regarding CF and NTM,” Chief Executive Timothy Whitten said in a statement.