Recro Pharma Inc. shares surged 18.6% in pre-market trade Monday after the company announced positive phase 3 trial results for its acute postoperative pain treatment. The drug, intravenous meloxicam, met the trial’s primary endpoint in the second of two late-stage clinical trials, which should put it on track for a new drug application with the Food and Drug Administration for summer 2017, Recro Pharma said. Meloxicam demonstrated a statistically significant difference in pain compared to a placebo in the first day after abdominoplasty surgery in a 219 person trial. The drug “has the potential to be a new, non-opioid alternative for patients with moderate-to-severe pain following soft tissue surgery,” said Dr. Neil Singla, the chief scientific officer of Lotus Clinical Research. Recro Pharma shares dropped 13.8% year-to-date, compared with a 8.3% rise in the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News