DALLAS, May 28, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Somaxon Pharmaceuticals Inc. (Nasdaq:SOMX). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/SOMX
Somaxon Pharmaceuticals Inc. (SOMX) is a specialty pharmaceutical company focused on the in-licensing and development of product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area. On March 18, 2010, the U.S. Food and Drug Administration (FDA) notified the Company that it approved its New Drug Application (NDA) for Silenor (doxepin) 3 milligram and 6 milligram tablets for the treatment of insomnia characterized by difficulty with sleep maintenance. The Company's clinical development program for Silenor included four Phase III clinical trials, and the primary efficacy endpoint achieved statistical significance in each trial. Its clinical trials for Silenor also demonstrated a favorable safety and tolerability profile, including a low dropout rate, an adverse event profile comparable to placebo, no clinically meaningful next-day residual effects and no evidence of amnesia, complex sleep behaviors, hallucinations, tolerance or withdrawal effects.
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In the report, the analyst notes:
"The Company continues to engage in discussions with third parties with the goal of entering into collaboration or other strategic transaction relating to the commercialization of Silenor. In a press release, SOMX president and CEO Richard W. Pascoe indicated that the Company is looking to launch Silenor in the second half of 2010.
"In keeping with its goal of strengthening its balance sheet, the Company said that, on March 31, 2010, it completed a public offering of 6.9 million shares of its common stock, including 900,000 shares sold...The Company said the net proceeds from the sale of the shares, after underwriting discounts and commissions and estimated offering expenses, were approximately $52.7 million."
To read the entire report visit: www.microstockprofit.com/lp/SOMX
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