Amicus' market momentum stalls after Galafold approval
Shares in rare disease specialist Amicus Therapeutics (Nasdaq: FOLD) unsurprisingly closed up on Friday following the approval of its Fabry disease drug Galafold (migalastat), but it was a different story on Monday.
The New Jersey-based biotech dipped nearly 7% to more than cancel out Friday’s gains and raise questions as to why investors had suddenly gone cold on Amicus.
One development was news on Amicus’ proposed pricing for Galafold, which is the first oral drug to win US approval for Fabry disease and the first to be approved for the rare condition in more than 15 years.
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