Yesterday, Citron published independent laboratory findings on the active ingredient in Questcor's only drug, Acthar Gel. Today the company's only response to these findings has now been quoted in Bloomberg.
Citron is astonished at what they didn't say.
UPDATE. (9:15 AM PST) We know readers might reasonably wonder: Were Acthar Gel test samples mishandled and/or degraded in some way before or during testing?
In fact, the tested vials came from two sources, two different batches, and the second set came straight from an official Acthar distributor, with full chain-of-custody documentation.
Both sample sets tested identically: fully degraded – no ACTH. Even the deamidated ACTH assayed was far below the stated concentration as specified on the label.
Citron has no idea how or why Questcor allowed apparently deamidated ACTH to get into the market. But we stand behind the lab results 100%.
Questcor (NASDAQ:QCOR) has been a battleground stock for years. Bulls have stood by the strong financial performance of the company, while bears have been clinging to the threat of multiple government investigations and lack of clinical data for this “magical” $30,000 per vial drug.
THAT HAS ALL NOW CHANGED
Today Citron puts that entire debate in an entirely new light. The entire debate is now reduced to just one single relevant question … nothing else matters.
What is in that $30,000 vial? You will be shocked when you find out.
Citron presents the findings of a compelling scientific inquiry from some of the nation’s pre-eminent analytical laboratories. These results, which have already been presented to the FDA, seek an answer to the one question that neither the longs nor the shorts has ever really known:
What is Really in HP Acthar Gel?