Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) Jumps 14.97% on Drug Approval

Posted by Ryan Mandell April 26, 2013 0 Comment 1232 views

Northern, WI 04/26/2013 (GDPInsider) –  Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR) is trading up 14.97% today on news that the pharmaceutical company has been given approval for the use of NUEDEXTA® (dextromethorphan hydrobromide and quinidine sulfate). The recommendation came from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) and the stock responded in kind once the news broke. AVNR opened at $3.67 and has a trading range of $3.57 and $3.74. The stock has continued its northward slope which began at the start of April and the current trading value see’s the stock up 27.11% on its 50-day moving average and 27.18% on its 20-day moving average.

The approval of NUEDEXTA® comes with some latitude because the EMA has recommended that it be used to treat pseudobulbar affect (PBA) no matter what the neurological cause of the condition stems from. There’s also a recommendation that the drug be approved in two dose strengths. The first dose is NUEDEXTA; 20/10 mg and the second dose being NUEDEXTA; 30/10 mg—both in capsule form.

The EMA looks committed to tackling PBA which is a condition characterized by sudden and uncontrollable emotional outburst. Frequent occurrences include uncontrollable laughter, crying or sometimes contrasting behavior in relation to what’s going on with a patient emotionally. Clearly a very complex condition and Avanir seemed to have taken the time and invested the money in understanding the problem and developing the drug.

Dr. Joao Siffert, chief scientific officer of Avanir believes that the approval is a win for patients. “We will continue to work with the European Medicines Agency and the European Commission toward the marketing authorization so that patients suffering from PBA have ready access to NUEDEXTA in Europe,” said Siffert in a release.

Is AVNR a solid investment at these levels? Get valuable updates and exclusive insights here.



WallStreetAnalyzed.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please visit WallStreetAnalyzed.com website, for complete risks and disclosures.

About Ryan Mandell

Ryan Mandell is our senior staff writer covering the White House for Political Report, Ryan also coordinates with the main newsroom news items and contributing write-ups on cultural, social and political activities. Ryan holds an undergraduate degree in journalism, a Doctorate in international relations and a Master Degree in mass communications with an emphasis in print journalism. Ryan also covered the International Society of Social Defense congress in Spain in 2007 and taken part in the Global Forum on economic policies

View all post by Ryan Mandell Visit author's website

Write Your Comment