Avanir Pharmaceuticals shares climbed as the company reported today positive results of its large pharmacokinetic study to identify an alternative dosing formulation of Zenvia, designed to deliver similar efficacy as observed in the first Phase III clinical study in diabetic peripheral neuropathic pain.
Today the company said the new formulation of Zenvia will improve the cardiovascular risk profile since it offers a lower exposure to the pharmaceutical agent quinidine. In April 2007, Avanir announced successfully meeting all primary endpoints in a Phase III study of Zenvia in DPN pain.
Diabetic peripheral neuropathy pain affects 5 to 50% of people with diabetes in the United States, diminishing peripheral sensation gradually and eventually complete loss of sensation.
Shares of Avanir were last at $1.28 after jumping 4.20 percent at the closing trading on Nasdaq today, but an additional 2.97 percent increase was posted in after hours electronic trading.