Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Transcept Pharma Receives $10 Mln Milestone Payment From Purdue - Quick Facts

Transcept Pharmaceuticals Inc. (TSPT: Quote) said Wednesday it received a $10 million milestone payment from Purdue Pharma LP in connection with the listing of Intermezzo formulation patents in the FDA Orange Book on December 15, 2011.

The milestone payment was made under the terms of the agreement between Purdue and Transcept for the commercialization of insomnia drug Intermezzo in the US. Purdue plans to launch Intermezzo in the second quarter of 2012 and to invest about $100 million to support marketing during the first year of commercialization.

On November 23, 2011, the FDA approved Intermezzo (zolpidem tartrate) sublingual tablet C-IV for use as needed for the treatment of insomnia when a middle-of-the-night awakening is followed by difficulty returning to sleep.

Transcept reported cash, cash equivalents and marketable securities of $54.1 million at September 30, 2011, and excludes the $10 million payment received today.

Click here to receive FREE breaking news email alerts for Transcept Pharmaceuticals, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A Thai company has bought iconic U.S. tuna brand Bumble Bee for $1.51 billion dollars. Thai Union Frozen Products Public Company Limited or TUF, the world's largest processor of shelf-stable tuna products snapped up Bumble Bee from private equity firm Lion Capital. Post Synergies, the transaction... Here is a list of interesting stocks to watch on December 19. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed below and many more have been researched already, and... Shares of OvaScience Inc. (OVAS) have had a strong run in 2014, rising over 370 percent year-to-date. And that's indeed a very impressive return delivered by the fertility treatment company, which suffered a setback last year when it had to suspend a U.S. trial of its flagship fertility treatment due to regulatory concerns raised by the FDA.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.