Rochester, NY 7/31/2009 6:53:17 PM
BioDelivery Sciences Internatio, BDSI - Obtains FDA Approval on Pain Drug
BioDelivery Sciences Internatio
BioDelivery Sciences Internatio, BDSI
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BioDelivery Sciences International Inc. said Thursday it received Food and Drug Administration on the cancer pain drug Onsolis. The approval triggers $27 million in milestone payments from development partner Meda AB. In 2008, BioDelivery had $268,000 in revenue.
The company said the drug is delivered via a small, dissolvable, polymer film through the inner lining of the cheek. It said the drug should be available during the fourth quarter and will be sold through its partner Meda. Shares of BioDelivery rose 33 cents, or 5.5 percent, to $6.33 in afternoon trading. The stock has traded between $1.93 and $8.29 over the last 52 weeks.
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