Zalicus, Inc. (NASDAQ: ZLCS) opened at $2.24 and showed a good movement later.
The volumes traded were not that convincing as compared to its daily average
volume which is 1.36 million shares. It hit the intraday high of $2.37 and an
intraday low of $2.22. The stock had a market cap of 207.45 million shares with
a beta of 1.75. The 52-week range was between $2.37 -$0.76. Zalicus Inc. today
announced plans for proceeding with the development of product aspirants from
its internal pipeline focused in the core areas of pain and inflammation,
including its trademark, Synavive for rheumatoid arthritis (RA) and multiple
compounds from its Ion channel program for the treatment of pain. Moreover,
Novartis has implemented its first choice to expand its oncology discovery
research collaboration with Zalicus for an additional contract year. Zalicus is
keen on following its additional research collaborations to make use of its
proprietary combination high-throughput screening (cHTS) and Ion channel
technology platforms. Mark H.N. Corrigan, MD, President and CEO of Zalicus,
commented that they are eager to move ahead with their product portfolio based
in the core therapeutic areas of pain and inflammation. Further he told that
they are through with their expansion plans for Synavive and have also
acknowledged that lon channel is potential to move ahead into clinical
development for pain in 2011. The highlights of the pipeline project is
completion of Synavive Phase 2b clinical development plan with study initiation
planned for the second quarter of 2011. Ion channel program with model Z944, a
lead Ion channel compound, to advance into IND-enabling toxicology studies
preceding the beginning of a Phase 1 study in 2011 and identified multiple other
preclinical compounds that are being evaluated for additional clinical starts in
2011. Extended oncology research collaboration with Novartis and entered second
funded research phase of the oncology pilot program with Amgen. Zalicus has
decided the development policy for Synavive, having discussed with the FDA and
other regulatory authorities in 2011, is planning to commence Phase 2b
development in rheumatoid arthritis (RA) in the second quarter of 2011.
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