Transcept (TSPT) Announces Purdue Exercised Option to Commercialize Intermezzo in the US; Shares Rallying
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Shares of Transcept Pharma (Nasdaq: TSPT) have surged more than 22 percent Thursday morning following news late Wednesday evening Purdue has exercised its option to commercialize Intermezzo® in the United States. Purdue plans to launch Intermezzo in the second quarter of 2012 and to invest approximately $100 million to support sales and marketing during the first year of commercialization.
After closing at $6.97 Wednesday, Transcept shares last traded at $8.73.
After closing at $6.97 Wednesday, Transcept shares last traded at $8.73.
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