SkyePharma shares soar

Source: Healthcare Digital

Date :03/07/2008 09:51:19

SkyePharma plc shares up 6% in London trading after experimental asthma inhaler Flutiform meets goals of phase III study.

Shares rose to 6.04 pence at 8:04am GMT giving the company a market value of £49.2 million.

In a statement, SkyePharma said Flutiform showed significant improvement in patients compared with standard treatments fluticasone and formoterol.

The study was conducted for 12 weeks in 475 patients across North America and Europe.

Development

COO and CEO-designate Ken Cunningham said the specialist drug company was very pleased with the treatment’s progress.

He added that SkyePharma would now look forward to the results of the one remaining trial required for the US filing.

The trial will be conducted by Kos Life Sciences and is expected to be completed in the second half of this year.

SkyePharma plans to submit the treatment to US regulators in the first quarter of 2009. It wants to sell the product by late 2009 or by 2010.