Upcoming AWS Coverage on ACADIA Pharmaceuticals Post-Earnings Results
LONDON, UK / ACCESSWIRE / March 24, 2017 / Active Wall St. blog coverage looks at the headline from Egalet Corp. (NASDAQ: EGLT) as the Company announced on March 23, 2017, that it has received new US and international patents for the Company's proprietary Guardian™ Technology. Register with us now for your free membership and blog access at:
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One of Egalet's competitors within the Biotechnology space, ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), reported on February 28, 2017, its financial results for Q4 and year ended December 31, 2016. AWS will be initiating a research report on ACADIA Pharma in the coming days.
Today, AWS is promoting its blog coverage on EGLT; touching on ACAD. Get all of our free blog coverage and more by clicking on the link below:
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Patent Details
Egalet announced that the United States Patent and Trademark Office (USPTO) has issued patent number 9,549,899 covering ARYMO™ ER (morphine sulfate) extended-release tablets for oral use only –CII developed using the Company's proprietary Guardian Technology. It is the second US patent covering ARYMO ER. The patent offers protection through 2033 and is listed in the Orange Book.
Egalet stated that it has been issued European patent number 239348, which and offers protection of products developed using Guardian Technology. Also issued is Australian patent number 2015200243. It is the third in a patent family. Both the European and Australian patents offer protection through 2030.
Egalet announced that it was also issued Canadian patent number 2,751,667, which covers Guardian Technology's immediate-release system designed to slow the release of the active pharmaceutical ingredient in the presence of alcohol. The patent offers protection through 2030.
"The newly issued patents further strengthen our ability to grow our business through the development of immediate- and extended-release products using our Guardian Technology," said Mark Strobeck, Ph.D., Egalet's Executive Vice President and Chief Operating Officer.
Egalet has been granted a total of 18 US patents and 95 patents outside of the US that cover Guardian Technology and its product candidates.
Guardian™ Technology
Egalet's proprietary Guardian Technology is a polymer matrix tablet technology that utilizes a novel application of the well characterized manufacturing process of injection molding, which results in tablets that are hard and difficult to manipulate for misuse and abuse. Tablets manufactured with Guardian Technology have been shown to have increased resistance to physical methods of manipulation, such as cutting, crushing, grinding or breaking, using a variety of mechanical and electrical tools. They are also resistant to chemical manipulation and attempts at extraction and turn into a viscous hydrogel on contact with liquid, making syringeability very difficult.
Financial Results
On March 09, 2017, Egalet announced its fourth quarter and fiscal 2016 results. The Company reported net product sales of $6.1 million for the quarter ended December 31, 2016 compared to $2.1 million for the same period in 2015 and net product sales of $16.9 million for the year ended December 31, 2016, compared to $4.2 million for FY15. As of December 31, 2016, Egalet had cash and marketable securities totaling $86.8 million.
For Q4 FY16, Egalet posted net loss of $21.4 million, or $0.87 per share, compared to a net loss of $6.8 million, or $0.28 per share, for Q4 FY15. For FY16, the Company posted net loss of $90.6 million, or $3.70 per share, compared to a net loss of $57.9 million, or $2.94 per share, for FY15.
Stock Performance
At the close of trading session on Thursday, March 23, 2017, Egalet's stock price climbed 3.25% to end the day at $4.77. A total volume of 489.60 thousand shares were exchanged during the session. The stock currently has a market cap of $120.25 million.
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