FDA to reject middle-of-the-night sleep drug, Transcept says

Regulators are putting Transcept Pharmaceuticals ’ middle-of-the-night sleep drug to rest.
The Richmond company (NASDAQ: TSPT) said Tuesday that it expects the Food and Drug Administration to reject its tablet, called Intermezzo, for the second time in 21 months.
Transcept and the FDA met in a teleconference earlier Tuesday, the company said, during which the FDA had continued safety concerns about the drug.