Regulatory Delays Cost Pacific Biometrics’ Stock
- Share via
Pacific Biometrics Inc. stock dropped 21%, or 75 cents a share, Friday to close at $3.75 after the company disclosed that regulators may require it to do more tests on its experimental skin patch intended to detect bone deterioration.
The Irvine developer of diagnostic tests for osteoporosis and other chronic diseases said it’s unlikely that regulators will approve the patch for sale by late September, as the company had hoped.
Pacific Biometrics said the U.S. Food and Drug Administration is seeking more information on the product. The company noted that it’s working to answer regulators’ questions, but, depending on their response, may need to expand tests and reapply for market approval.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
