AVANIR Scores on Patent with No Competition (AVNR)

Posted in pre-market 
October 7th, 2009

AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) has just traded up on word that it has received a patent allowance in teh U.S. for its lead drug candidate Zenvia™ well into 2025. “Pharmaceutical Compositions Comprising Dextromethorphan and Quinidine for the Treatment of Neurological Disorders” will give AVANIR patent protection for low-dose quinidine formulations of Zenvia used to treat pseudobulbar affect. This low-dose quinidine formulation of Zenvia met its primary efficacy endpoint in the recently announced confirmatory Phase III STAR trial in PBA, and the company noted that there are currently no FDA approved treatments for PBA.  The news hit at 8:30 AM EST and at 8:42 AM EST we have seen some 178,000 shares trade hands and the stock is up 6.5% at $2.27.  Average volume is only 1.8 million shares and the 52-week trading range is $0.23 to $4.09; market cap before the boost was $167 million. JON OGG

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