Shares in drug development firm BioDelivery Sciences International soared more than 30 percent on Wednesday after the company disclosed positive news in a Phase III clinical trial.
The reported efficacy of BDSI’s unique means of delivering powerful pain killers to combat breakthrough cancer pain sent BDSI shares (NASDAQ: BDSI) up $1.41 to close at $6.05.
Nearly 14 million shares traded hands. Typical daily volume is less than 170,000.
BDSI is seeking approval for its BEMA Fentanyl product. It includes a small, dissolvable disk that includes the narcotic fentanyl. The disc dissolves when placed against the inner cheek.
In the trial, BDSI said the product met the primary efficacy endpoint of providing pain relief at 30 minutes in a trial involving 80 patients.
“Only five patients (approximately 3% of those patients entering the initial titration phase of the study) were unable to achieve adequate pain relief,” said Andrew Finn, BDSI’s executive vice president of product
development. “Importantly, the results also demonstrated that BEMA Fentanyl was well-tolerated by patients in the trial, with no reported drug-related changes to the oral mucosa, which is important for cancer patients who may also have oral ulcerations as a result of a weakened immune system.”
BDSI believes the drug could reach $250 million a year in sales if approved.
