Egalet progressing second abuse-deterrent opioid med

Egalet (Nasdaq: EGLT) says its share move up a hefty 38.55% after announcing positive top-line trial results from a Phase III safety study of its abuse-deterrent oxycodone formulation Egalet-002.

Egalet-002 was generally well-tolerated and the incidence of adverse events reported was generally consistent with outcomes expected following treatment with an extended-release oxycodone formulation.

In January this year, Egalet received US Food and Drug Administration approval for Arymo ER (morphine sulfate), a new long-acting opioid, but details of the label were disappointing. The company had sought to claim that Arymo ER deters abuse through injection, chewing or snorting. The FDA will allow Egalet to make the first claim, but not the latter two.