Graniteshares 2x Short NVDA Daily ETF (NYSE:NVD)
Industry: Healthcare
NovaDel Pharma Inc., incorporated on January 21, 1982, is engaged in the development of application drug delivery systems for marketed prescription, over-the-counter (OTC) and veterinary drugs. The Company's delivery system is an oral spray potentially enabling drug absorption through the oral mucosa and rapid absorption into the bloodstream than available oral delivery systems. The Company identified six priority products for development, such as nitroglycerin, sumatriptan, alprazolam, zolpidem, ondansetron and propofol. The Company also has identified a number of other development initiatives, which are less of a priority than the Company's six priority programs, including clemastine, loratadine, estradiol and progesterone oral sprays. During the fiscal year ended July 31, 2005 (fiscal 2005), the Company entered into strategic license agreements with Manhattan Pharmaceuticals, Inc. (Manhattan), in connection with propofol; Velcera Pharmaceuticals, Inc. (Velcera), in connection with veterinary applications for marketed veterinary drugs; Par Pharmaceutical, Inc. (Par), for the marketing rights in the United States and Canada for the Company's nitroglycerin oral spray, and Hana Biosciences Inc. (Hana), for the marketing rights in the United States and Canada for the Company's ondansetron oral spray. On November 18, 2004, the Company entered into a manufacturing and supply agreement with INyX USA, Ltd. (INyX), whereby INyX will manufacture and supply the Company's nitroglycerin lingual spray. For a five-year period that began November 18, 2004, INyX will be the provider of the nitroglycerin lingual spray to the Company worldwide. Cardiovascular (Nitroglycerin) NovaDel has partnered with Par Pharmaceutical Companies, Inc., who has rights to market, sell and distribute NitroMist (nitroglycerin lingual aerosol) in the United States and Canada. Manufacturing of the product will occur at the Manati, Puerto Rico facility of INyX, Inc. NitroMist is a pending trademark of Par Pharmaceutical Companies, Inc. Migraine (Sumatriptan) Oral Spray The Company formulated a sumatriptan oral spray and performed a pilot pharmacokinetic (PK) study, during the fiscal year ended July 31, 2004 (fiscal 2004). Sumatriptan is the active ingredient in Imitrex, which sells migraine remedy marketed by GlaxoSmithKline. On October 13, 2004, the Company announced the preliminary results from such pharmacokinetic study. The study indicated that the sumatriptan oral spray achieved serum concentrations of sumatriptan in the therapeutic range. The pilot pharmacokinetic study involved nine healthy and fasting volunteers, and was conducted in Europe. The study was designed to evaluate the pharmacokinetic profile of various doses of a sumatriptan oral spray (dose range: 2.5-30 milligram) in comparison to the 50-milligram oral Imitrex tablet and 6-milligram subcutaneous Imitrex injection. For a majority of doses, the Company delivered sumatriptan via the oral spray into the expected therapeutic range of serum concentrations. Anxiolytic (Alprazolam) Oral Spray NovaDel has formulated an alprazolam oral spray and performed a pilot PK study, during fiscal 2004. Alprazolam is the active ingredient in Xanax, which is marketed by Pfizer, Inc. (Pfizer), and is also available in generic versions. The study was designed to evaluate the PK profiles of various doses of NovaDel's oral spray compared to a 0.5-milligram alprazolam tablet. NovaDel achieved its goal of delivering alprazolam via oral spray to achieve blood levels in the same therapeutic range delivered by the marketed oral tablet. Hypnotic (Zolpidem) Oral Spray The Company has formulated its zolpidem oral spray and performed a PK study, during fiscal 2005. Zolpidem is the active ingredient in Ambien, hypnotic marketed by Sanofi-Aventis. The study was designed to evaluate the PK profile of various doses of NovaDel's oral spray in comparison to the 10 milligram Ambien tablet. NovaDel achieved its goal of demonstrating the ability to deliver zolpidem via the oral spray technology and achie
As Of: 06/05 16:14 ET
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