Akorn Inc (NASDAQ:AKRX) has received FDA approval for a nasal spray aimed at treating allergies, boosting Akorn stock over 10%.

Akorn is a leading specialty generic pharmaceutical company based in Amityville, New York that develops, manufactures, and markets generic and branded prescription pharmaceuticals as well as animal and consumer health products. The announcement comes as welcome news for Akorn stock, which hasn’t been having a great time as of late. Having been valued as high as $33.05 early last year, the company’s shares have dropped off dramatically, having lost over 90% since then.

Last ...