|Big drop after top line result announcements|
|By Jaime Tera|
|Monday, 12 October 2009 07:17|
This specialty pharmaceutical company focused on the development and commercialization of differentiated products that are based on oral drug delivery technologies will be hosting a conference call today after seeing a big drop following some disappointing news.
DepoMed, Inc.(NASDAQ:DEPO) whose shares closed at $6.36 +0.55 (9.47%) on friday has pre-market shares trading considerably lower at $4.30 -2.06 (-32.39%) after the company announced top line results from the BREEZE I and II Phase III clinical trials evaluating the safety and efficacy of SeradaTM, an investigational non-hormonal extended release formulation of gabapentin for the treatment of menopausal hot flashes. A full report on the findings can be read here.
Just last week, the company announced top-line results from a Phase 3 clinical trial demonstrating DM-1796 (also referred to as gabapentin ER) achieved a statistically significant reduction in pain associated with postherpetic neuralgia (PHN) versus placebo using the baseline observation carried forward (BOCF) method required by FDA.
Depomed has announced a conference call to discusse the top-line results and during the call the management team sounded much more optimistic than expected and they said that despite the results, they remains hopeful about the program and plans to discuss the results with U.S. regulators.