Matrix left with half a loaf

With a second non-approvable letter for AccuSite Injectable Gel from the FDA in hand, Matrix Pharmaceutical Inc. now is stuck with a product that is on the market in Europe and apparently nowhere to go in the U.S.

The company last week said it has halted development of the compound for genital warts in the U.S. indefinitely. While revenue projections will be hit, the real complication is that AccuSite is already on the market in the U.K., and has been approved for marketing elsewhere in Europe. With manufacturing and distribution obligations for AccuSite, MATX still will have to manage the product while its main focus is on the company's cancer pipeline...