Cypress Bioscience, Developer of Fibromyalgia Drug, Eagerly Awaits FDA Deadline

Luke Timmerman 10/10/08 Cypress Bioscience is one of those biotech companies that has limped along for more than 20 years, losing loads of money. In the lovely language of chief operating officer Sabrina Johnson, it has gone through “several reincarnations.” The company now expects to find out by the end of this month whether its latest incarnation will enable it live a prosperous life here on Earth. The San Diego-based company (NASDAQ: CYPB), and its partner, Forest Laboratories, expect to hear from the FDA by the end of this month on whether they have clearance to start selling milnacipran for fibromyalgia. I visited Johnson at Cypress headquarters last week during my tour of San Diego. Wall Street doesn’t seem to think too highly of what’s going on here, with Cypress trading down more than 60 percent from its one-year... [read full story]