Shares in Egalet Corp. (NSDQ:EGLT) soared this morning in pre-market activity after the company reported that its abuse-deterrent, extended-release oxycodone candidate met the primary endpoint of a Phase III pain relief trial.
The Wayne, Penn.-based company compared the efficacy and safety of its product to a placebo in opioid-experienced and opioid-naïve patients with moderate-to-severe chronic low back pain.
The study showed a statistically significant difference in average pain intensity from baseline to week 16 between those treated with Egalet-002 and a placebo, Egalet reported.
Egalet-002 is made of the company’s Guardian polymer matrix tablet technology, which gives the pills physical and chemical properties designed to resist crushing or grinding. The pills are also harder to manipulate chemically, according to Egalet, and turn into a viscous hydrogel on contact with liquid.
“These results demonstrate Egalet-002, an abuse-deterrent, extended-release oxycodone, provided effective pain relief for patients with moderate-to-severe chronic back pain,” president & CEO Bob Radie said in prepared remarks. “Given the prevalence of chronic back pain combined with the prescription abuse epidemic, we believe development of more abuse-deterrent products like Egalet-002 is important for our communities.”
EGLT shares were trading at $1.38 apiece in pre-market activity today, up 15%.