NEW YORK, NY / ACCESSWIRE / April 26, 2018 / Dare Biosicence shares were exploding on Wednesday after the women's biopharma company announced that it had entered into an exclusive worldwide license agreement for Juniper Pharmaceutical's Intravaginal Ring technology platform. Shares of Arcadia didn't have as good a day as Dare yesterday as news of the FDA reviewing the company's controversial Parkinson's drug Nuplazid surfaced. Shares of Acadia plummeted and closed down over 20%.
RDI Initiates Coverage on:
Daré Bioscience, Inc.
ACADIA Pharmaceuticals Inc.
Daré Bioscience, Inc. shares closed up 56.69% on Wednesday with around 29 million shares traded. The stock saw its shares explode after the company announced that it has secured an exclusive license to Juniper Pharmaceuticals' intravaginal ring technology. The license includes Juniper's three preclinical candidates. The clinical stage women's biopharma company's CEO Martucci Johnson commented, "We see great potential in this promising technology with already established, compelling preclinical results and intellectual property that we believe will support further drug development. We believe that the capabilities of the intravaginal ring platform will greatly expand our ability to identify and meet unmet needs in women’s sexual and reproductive health." According to the press release, "Current 505(b)(2) candidates under development by Juniper include JNP-0101, an oxybutynin ring for the treatment of overactive bladder; JNP-0201, a combination estradiol + progesterone ring for hormone replacement therapy; and JNP-0301, a natural progesterone ring for the prevention of preterm birth."
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ACADIA Pharmaceuticals Inc. shares were crumbling in Wednesday trading with the stock closing down nearly 22%. Trading volume at a little over 18 million shares was significant compared to an average trading volume of just about 2.5 million shares. The big drop came after traders learned that the Food & Drug Administration is reviewing the company's Parkinson's medication Nuplazid, the only approved drug used to treat hallucinations and delusions associated with the disease. A spokesperson for the FDA said, "The FDA is conducting an evaluation of available information about Nuplazid. This review has been going on for several weeks. We have nothing more to share at this time." A spokeswoman for the FDA told CNBC that the agency is conducting an evaluation of available information about Nuplazid. The drug has been in hot water since reports of people dying while taking it. According to Diana Zuckerman, who is the president of the National Center for Health Research had previously stated, "This is almost unheard of to have this many deaths reported...you have to take it seriously."
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