Anesta Corp. announced late Friday that it received a not approvable letter from the FDA for the company's NDA for the Actiq lollipop formulation of fentanyl to treat chronic and breakthrough pain for cancer and other patients. In September, FDA's Anesthetic and Life Support Drugs Advisory Committee unanimously recommended the compound for approval, stating that in these patients the benefits of Actiq outweigh the risks.

NSTA stock closed at $20.50, down $1.50 on Friday. The company