Javelin Pharmaceuticals granted patent
Javelin Pharmaceuticals Inc. (AMEX: JAV) shares are up after the firm announced before the opening that it was granted a patent that will strengthen protection of PMI-150, its postoperative pain medication.
“This new patent, directed to Javelin’s anticipated commercial formulations, recognizes Javelin’s continuing ability to develop first in class, novel pharmaceutical product formulations to address unmet medical needs in the acute pain care market,” Fred Mermelstein, Javelin’s president, said in a statement. “Upon approval, PMI-150 will be the only intranasal ketamine product offering physicians and patients a non-opioid alternative for treatment of moderate to severe pain.”
In midday trading, JAV shares are up 2.16%, or $0.11, at $5.21. Over the last 52 weeks, shares have ranged from $2.66 to $7.60.
