Major Breakthrough For Antares Pharma Inc (NASDAQ:ATRS)
Otrexup, Antares Pharma Inc (NASDAQ:ATRS)’s injectible drug that is used in the treatment of difficult to treat arthritis and psoriasis cases, received the U.S. Food and Drug Administration nod. It is an alternative to pills. Paul Wotton, the company’s President and CEO said that this approval is a very strategic milestone for Antares Pharma Inc (NASDAQ:ATRS) and the Vibex Medi-Jet proprietary technology. The company has numerous other products that are in developmental stages, and which use this same technology. Otrexup is expected to be commercially launched in early 2014.
A first of its kind
Antares Pharma Inc (NASDAQ:ATRS) has said that this is the very first Methotrexate, patient-administrable drug that has received FDA approval. Patients can use this once a week and it has a disposable auto-injector. This drug is prescribed for patients suffering from severe active-rheumatoid arthritis, children suffering from active polyarticular juvenile-idiopathic arthritis as well as patients suffering from psoriasis, the skin disease. Otrexup offers an ideal alternative when patients have not responded adequately to methotrexate pills or for those who have tolerability-issues with any oral drug.
In Tuesday’s trading, Antares Pharma Inc (NASDAQ:ATRS) dropped by 6.93%. The opening price of the shares was $4.67, which climbed to an intraday high of $4.69 and dipped to a close of $4.36. Approximately 5.20 million shares were traded on Tuesday while an average volume of 2.01 million shares were traded over a 30 day period. The 52-week low of Antares Pharma Inc (NASDAQ:ATRS) shares is $3.35 and its 52-week high is $5.15. The company has a market capitalization of $555.05 million.
About the company
Antares Pharma Inc (NASDAQ:ATRS) is a pharmaceuticals company. It is focused on various self-injection pharmaceutical products & technologies as well as topical gel-based products. Antares Pharma Inc (NASDAQ:ATRS)’s subcutaneous and intramuscular-injection technology platforms are Vibex disposable-pressure-assisted auto injectors, Vision reusable-needle-free injectors, and disposable multi-use-pen injectors.