Zalicus, Inc. (NASDAQ: ZLCS) Declares Plans for Advancing Product Candidates

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. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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