NovaDel Pharma Reports Recent Events and Financial Results for Third Quarter 2010
12.11.10
, A specialty pharmaceutical company
developing oral spray formulations for a broad range of marketed
pharmaceutical products, today reported recent events and financial
results for the third quarter and nine months ended September 30, 2010.
Recent Events
In October 2010, we announced positive data from a non-IND pilot
pharmacokinetic clinical trial comparing Duromist(TM) to Viagra(R).
Duromist is our oral spray formulation of sildenafil. Viagra is the
tablet formulation of sildenafil, developed and marketed by Pfizer. We
intend to review the results from the trial with the FDA to obtain
guidance on defining definitive clinical trial requirements as a
pathway to new drug application, or NDA, approval. We plan to complete
the clinical trial and to file a NDA in 2011.
In November 2010, we announced that we received a $500,000 milestone
payment under our license and distribution agreement with Mist
Acquisition, LLC.
In November 2010, we announced that we have been awarded a $244,479
grant under the IRS' Qualifying Therapeutic Discovery Project program.
We expect the grant to be fully funded in January 2011.
Source: MarketWatch (press release)
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