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Portola's AndexXa fails to get US FDA approval

Published 18/08/2016, 02:22 pm
© Reuters.  Portola's AndexXa fails to get US FDA approval
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Aug 18 (Reuters) - Portola Pharmaceuticals PTLA.O said on Wednesday its investigational drug AndexXa did not get approval from the U.S. Food and Drug Administration.

AndexXa is being developed for patients being treated with a Factor Xa inhibitor when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding.

Factor Xa plays a key role in blood coagulation.

The FDA also sought additional information related to manufacturing of the drug.

Portola is developing drugs related to thrombosis and other hematologic diseases.

Portola's shares fell 11 percent to $23.69 in regular trading on Wednesday, and a further 12 percent in after-hours trade.

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