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FDA Rescinds Marketing Denial Order For Turning Point Brands' Vapor Products

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  • Turning Point Brands Inc (NYSE: TPB) stated that the Food and Drug Administration (FDA) had rescinded its September 14 Marketing Denial Order (MDO) for certain of its vapor products with pending Premarket Tobacco Product Applications (MTAs) under review.

  • All of TPB's proprietary vapor products, including its Solace branded e-liquids, will continue to be marketed while they remain under review.

  • "We are encouraged by the FDA's decision to reconsider our product applications and look forward to engaging the agency as our PMTAs are reviewed," said CEO Larry Wexler.

  • In response to the September 14 MDO, the company had filed a petition for relief and motion to stay the decision in the 6th Circuit Court of Appeals. On October 8, due to the rescission letter, TPB withdrew both the petition and motion.

  • Price Action: TPB shares are trading higher by 2.58% at $49.25 in premarket on the last check Monday.

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