Mattrixx CEO: FDA Warning 'Unprecedented'

(Update: Updates the stock price.)

Matrixx Initiatives(MTXX Quote) continued to beat the drum of its innocence Thursday as it faces the very real prospect of losing almost half its business because of a Food and Drug Administration warning.

Maker of the now-infamous Zicam nasal sprays that the FDA says may eradicate your sense of smell, Matrixx convened a conference call with analysts and investors Thursday to defend itself and begin the process of totting up the financial damage.

"Let me state for the record: Neither the company nor I would ever market a product we knew to be a safety concern," said Matrixx boss William Hemelt. Later on, he added, "I can't stress this enough: We believe our products are safe and effective." ...