Somaxon (SOMX) Shares Double on Silenor Settlement, Strong Sales Outlook
Tweet Send to a FriendGet Alerts SOMX Hot Sheet
Trade SOMX Now!
Somaxon Pharmaceuticals (Nasdaq: SOMX) shares have doubled Wednesday following strong Silenor news issued late Tuesday night.
In a release from the company, Somaxon said it settled litigation with Mylan (Nasdaq: MYL) and Par Pharma (NYSE: PRX) for Silenor 3- and 6-mg tablets.
Additionally, Somaxon said it sees net product sales for Silenor for the second quarter ended June 30, 2012 to be approximately $2.8 to $2.9 million. The numbers are up from reported sales of $2.7 million in the first quarter.
For more color, click here.
Shares are 95 percent better on the session with strong volume. The Stock was up as much as 130 percent to 60 cents earlier.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
In a release from the company, Somaxon said it settled litigation with Mylan (Nasdaq: MYL) and Par Pharma (NYSE: PRX) for Silenor 3- and 6-mg tablets.
Additionally, Somaxon said it sees net product sales for Silenor for the second quarter ended June 30, 2012 to be approximately $2.8 to $2.9 million. The numbers are up from reported sales of $2.7 million in the first quarter.
For more color, click here.
Shares are 95 percent better on the session with strong volume. The Stock was up as much as 130 percent to 60 cents earlier.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Tesla (TSLA) Ramps Higher (GM)
- AMD (AMD) on Watch after Executive Shift at Largest Customer (HP)
- Chinese Solars Ramp Higher
Create E-mail Alert Related Categories
Insiders' Blog, Momentum Movers
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
