Pharmaxis (ASX: PXS) has been granted a trading halt by the ASX, due to the pending details of some announcements which may impact the company.
Pharmaxis said in a request to the ASX, 'The European Committee for Medicinal Products for Human Use (CHMP) is due to form an opinion on the re-examination of Bronchitol® for the treatment of cystic fibrosis during its meeting to be held in London between 17 and 20 October 2011 (UK time).
'Although Pharmaxis will be provided with some incomplete information concerning the outcome of the re-examination during the course of the week, Pharmaxis does not expect to receive definitive notification of the outcome of the re-examination until the evening of Friday 21 October 2011 (Australian time) when the CHMP releases notes of the meeting on its website.'
Since the company does not expect to be in a position to make an announcement by 20 October 2011, Pharmaxis intends to request a voluntary suspension of trading in its shares for two days commencing on the 20 October 2011.
The announcement of the outcome of the re-examination of Bronchitol® for the treatment of cystic fibrosis will lift the trading halt/ subsequent voluntary suspension when made to the market.