The FDA has approved Critical Therapeutics' twice daily extended release therapy for asthma, sending the company's stock soaring more than 50 percent in premarket trading. The therapy, Zyflo CR, uses delivery technology developed by SkyePharma. Critical Therapeutics has already announced plans to beef up its sales force by 40 people. Zyflo has been marketed in the U.S. since 2006.
"This approval is an exciting milestone for Critical Therapeutics because it solidifies our position in the asthma market and completes an important step to strengthen the company and rebuild shareholder value," said Frank Thomas, Critical Therapeutics' president and CEO.
- check out the release for more
- and read this Boston Globe report
ALSO: SkyePharma gains a new stream of royalties from the approval. Report