JMP reiterates Oscient at market outperform

Oscient Pharmaceuticals Corp. was reiterated by JMP Securities analyst Michelle Lange at a market outperform rating on news that the FDA has accepted the sNDA to shorten the Factive dosing regimen to five days from seven days for community acquired pneumonia. The FDA refused the application to add acute bacterial sinusitis (ABS) to the Factive label. JMP expects Oscient will make every effort to convince the FDA to review the ABS application before making a final decision and that estimated Factive sales are achievable. Shares of the Waltham, Mass., pharmaceutical company were down 49 cents, or 17.82%, at $2.26 on volume of 1,564,923 shares versus the three-month running average of 487,456 shares. (Nasdaq: OSCI)

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