Cadence Pharma soars 64% in pre-market after FDA approves plan to submit pain drug
Shares of Cadence Pharmaceuticals Inc. (Nasdaq:CADX) are soaring 64% in today’s pre-market after the U.S. Food and Drug Administration said the trials for the drug Acetavance are sufficient to submit a new drug application. Acetavance is the biopharmaceutical company’s intravenous formulation of acetaminophen for the treatment of acute pain and fever in adults and children, the company said. The San Diego company said it intends to complete the new drug application in the second quarter of 2009.
Ahead of today’s opening, shares are at $10.50 at 8:28 a.m. ET, up $4.08 from Wednesday’s close. Shares have ranged from $4.84 to $15.70 during the past year.
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