Shareholders of testosterone treatment producer Acrux Limited (ASX: ACR) would be increasingly concerned with their investment after the stock was sold down another 9.44% on Thursday.
In an update to the market on Wednesday, Acrux confirmed that the US Food and Drug Administration (FDA) had expressed concerns over Testosterone Replacement Therapy and the possible increased risk of heart attack and stroke associated with the treatments, casting doubt over the future of Acrux's flagship product, Axiron.
The stock has been hammered as a result having lost more than a quarter of its value over the last week. The situation looks even more dire when you look at the last month with the stock having plummeted 43.21% in that time.
Source: Google Finance
The FDA's review certainly comes as a setback for Acrux. With further testing on the product now expected to take years to complete, further selling of the stock is possible as investors become increasingly uncertain regarding its potential.
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