Somaxon (SOMX) Shares Double on Silenor Settlement, Strong Sales Outlook
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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.
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Shares are 95 percent better on the session with strong volume. The Stock was up as much as 130 percent to 60 cents earlier.
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.
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