Apricus sells certain ED drug rights, sending its share leaping

10 March 2017

Shares of Apricus Biosciences (Nasdaq: APRI) leapt by around 18% to hit intraday day high of $3.41 per share during Thursday morning following the company’s update regarding its erectile dysfunction drug, the rights to which is acquired from Allergan (NYSE: ACT) in 2015.

Apricus, a US biopharmaceutical company advancing innovative medicines in urology and rheumatology, says it completed the sale to privately-held Swiss firm Ferring International of its ex-US assets and rights related to its Vitaros, an on-demand topical cream indicated for the treatment of patients with erectile dysfunction pursuant to a definitive agreement with Ferring.

Ferring is Apricus’ existing commercialization partner for Vitaros, which combines a formulation of alprostadil, in Latin America and certain parts of Europe and Asia. Apricus will retain its Vitaros rights in the USA and it remains on track to re-submit the Vitaros New Drug Application to the Food and Drug Administration in the third quarter of 2017.

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