Lannett Announces FDA Acceptance of New Drug Application
On December 1, Lannett Company, Inc. (LCI) announced FDA acceptance of its 505(b)(2) New Drug Application (NDA) for Cocaine Hydrochloride (HCl) Topical Solution. The drug is a proprietary local topical anesthetic with the proposed name Numbrino. The submission is supported by two successful Phase 3 clinical trials.
Rocket Tickers detected the event and sent an alert to subscribers at 6:53 am. The next trade occurred at 8:04 am for $26.45. The stock opened for trading during the regular market session at $26.55.
Lannett’s stock price continued to climb throughout the day on the positive news before closing for the day at $28.65. That makes a gain of 8.3% for the day following the announcement.
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