FDA advisory panel review of KemPharm's lead candidate set for May 5

US clinical-stage biotech firm KemPharm (Nasdaq: KMPH) says that a joint meeting of the Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee of the US Food and Drug Administration has been scheduled for May 5, to review its New Drug Application for KP201/APAP, its lead investigational drug candidate for the short-term management of acute pain.

KemPharm’s shares gained 3.2% to $14.50 by mid-morning following the announcement. Analysts have set a 1 year consensus target price of $26.75 for the company and are forecasting that KemPharm will post ($0.56) earnings per share for the current quarter, according to Zacks Equity Research.

Target PDUFA date of June 9