All AEGR investors/traders should read the entire FDA warning letter. Yahoo won't let me link it here, but if you go to the Seeking Alpha website, key in AEGR in your search, you'll see a few paragraphs on the matter, and then the last bullet has the link to the actual letter.
For those who may think it's a non-event, I'm afraid you're mistaken; this is a very serious letter: Below is a key paragraph in the letter:
Conclusion and Requested Action
"For the reasons discussed above, your statements provide evidence that Juxtapid is intended
for new uses, for which it lacks approval and for which its labeling does not provide adequate
directions for use, which renders Juxtapid misbranded within the meaning of the FD&C Act
and makes its distribution violative of the FD&C Act. See 21 U.S.C. 352(f)(1), 331(a); 21
CFR 201.5, 201.100, 201.115, 201.128."
"OPDP requests that Aegerion immediately cease misbranding Juxtapid and introducing it into
interstate commerce for unapproved uses for which it lacks adequate directions. Please
submit a written response to this letter on or before November 22, 2013, stating whether you intend to comply with this request, listing any promotional materials (with the 2253
submission date) for Juxtapid that contain statements such as those described above, and
explaining your plan for discontinuing use of such materials or, in the alternative, your plan to
cease distribution of Juxtapid. Because the violations described above are serious, we
request, further, that your submission include a comprehensive plan of action to disseminate
truthful, non-misleading, and complete corrective messages about the issues discussed in this letter to correct any misimpressions about the approved use of Juxtapid."
Investors have to be able to trust the CEO of a company. If that trust is violated, you wonder what else is going on behind the scenes. At the very least, I would expect an 8K from the company very soon.
If you're a shareholder of AEGR, I would be very concerned about a CEO who apparently is a stock promoter on CNBC. And with the recent insider sales, followed by the FDA letter, the timing is very suspect. The most important aspect of an investment is the CEO running the company. If you can't trust the CEO, you can't trust the company.
The only apology forthcoming that makes sense would be one coming from the CEO, formally apologizing to shareholders. The FDA is also requiring a timely remedy to correct the problem, so yeah, it's serious. By the way, expect analysts to come to AEGR's defense; that's what they're paid to do when they receive investment banking fees.