Furiex Pharmaceuticals Inc. (FURX: Quote) announced after the close Friday that Takeda Pharmaceutical received approval from the FDA for three new type 2 diabetes therapies, NESINA and the fixed-dose combination therapies, OSENI and KAZANO, for the treatment of type 2 diabetes in adults as adjuncts to diet and exercise. Furiex is entitled to receive a $25 million milestone payment as a result of this approval, as well as royalties on sales in the United States and potential sales-based milestones.
Furiex Pharmaceuticals gapped open dramatically higher Monday and rose further around the middle of the afternoon. Shares finished up by 14.10 at $35.34 on the highest volume of the year. The stock surged to a new high for the year.
Click here to receive FREE breaking news email alerts for Furiex Pharmaceuticals, Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org