October 26, 2009 / 11:26 AM / 10 years ago

UPDATE 1-Matrixx says FDA unwilling to change stance on Zicam

* FDA says unwilling to reverse position on warning letter

* Co says evaluating options

Oct 26 (Reuters) - Matrixx Initiatives Inc MTXX.O said the U.S. health regulator has indicated that it is unwilling to reverse its position regarding the warning letter issued on company’s nasal versions of Zicam cold remedy.

In June, the company voluntarily withdrew two of its existing Zicam products after the U.S. Food and Drug Administration issued a warning letter that the products could cause a loss of smell. [ID:nN24151638]

In a regulatory filing with the U.S. Securities and Exchange Commission, the company said it is currently evaluating its options. In August, the company posted a wider quarterly loss and withdrew its outlook for the year.

The FDA also identified several individual cases where the regulator indicated the company should have filed serious adverse event reports. Matrixx said it is reviewing the observations and will be responding soon.

The company, which is facing a series a class action lawsuits, also said there were two shareholder derivative lawsuits filed in September against its current and former officers related to the recall.

Shares of Matrixx closed at $5.03 Friday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Maju Samuel)

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