Ahead of the Bell: NuPathe
NuPathe jumps in premarket trading as FDA approves its migraine skin patch
NEW YORK (AP) -- Shares of NuPathe soared in premarket trading on Friday as the company received approval from the U.S. Food and Drug Administration for its migraine skin patch.
NuPathe Inc. announced the FDA's approval of Zecuity late Thursday. Zecuity is a single-use, battery-powered patch that actively delivers sumatriptan, the most widely prescribed migraine medication, through the skin. The company says that the patch provides relief for migraine headache pain and migraine-related nausea.
CEO Armando Anido said in a statement that NuPathe would now focus more on securing commercial partners and preparing for Zecuity's anticipated launch in the fourth quarter.
NuPathe's stock surged 58 cents, or 17.5 percent, to $3.89 before the market open. Its shares have traded in a 52-week range of $1.87 almost a year ago to $5.10 last March.
