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Drug maker EpiCept has posted losses of $28.6m for 2007 but expressed hope that it can make progress this year.
The New York-based company focuses on cancer treatments and pain medications, and currently has nine products on the market.
The figures come after the firm revealed a setback in its efforts to attain a marketing authorisation application (MAA) for Ceplene (histamine dihydrochloride) in the EU.
The compound is intended for patients with acute myeloid leukaemia (AML) in first remission, but the European Committee for Medicinal Products for Human Use (CHMP) has said further clinical data is required.
Jack Talley, president and CEO, said: “In 2007, we made significant progress with our diversified portfolio of product candidates for the treatment of cancer and the management of pain.
“In 2008, we will continue to build on this momentum. We expect to have several near-term announcements including the release of phase II active controlled results of our NP-1 cream vs gabapentin in post herpetic neuropathy and ongoing clinical developments for our novel vascular disruptive agent EPC2407, while we continue to pursue the approval of Ceplene in the EU and consider other important markets. The company has a diversified base of product candidates under development.”
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