Dallas, Texas 09/19/2013 (Financialstrend) –A biopharmaceutical company, Zalicus Inc (NASDAQ:ZLCS), is engaged to discover and develop novel treatment for pain immuno-inflammatory diseases. The Company has a portfolio of clinical-stage product candidates including Z160 (under two Phase IIa clinical trials) and Z944 (completed Phase I study). The company also has multiple revenue-generating collaborations with other pharmaceutical companies including Novartis AG (ADR) (NYSE:NVS), Fovea Pharmaceuticals, Hydra Biosciences, Inc., Mallinckrodt (NYSE:MNK), Amgen, Inc. (NASDAQ:AMGN) and the United States Army Medical Research Institute. Zalicus Inc (NASDAQ:ZLCS) has market capitalization of $99.82 million. The 52 week range for the stock remains between $0.43 and $0.93. The stock closed at $0.74 during its trading session on Wednesday, September 18. The stock has surged almost 33% in past three months.
Recently Zalicus Inc (NASDAQ:ZLCS) announced that it has initiated Phase Ib clinical trial for its key drug Z944 – an oral selective T-type calcium channel blocker. The results of this study in an experimental clinical model of neuropathic pain using Laser Evoked Potentials (LEP) are expected during 4Q13. The LEP model would gain us an opportunity to compare the efficacy of Z944 against other therapies as many emerging and currently approved pain drugs have been evaluated using this model. President and Chief Executive Officer of the company, Mark H.N. Corrigan, MD, commented that the results of LEP study will influence our future development plans for Z944 as we work for a modified release formulation of Z944 for a variety of potential indications.
Earlier this month, Zalicus Inc (NASDAQ:ZLCS) announced completion of patient enrollment in two Phase II clinical trials of Z160 and results from both these studies are also expected by 4Q13. These studies are being conducted to test clinical efficacy for chronic neuropathic pain indications. The primary study endpoint is the change in weekly mean pain scores alongside other endpoints which include multiple other pain, safety and functional measures. Z160 is an oral, first in class, selective N-type calcium channel blocker.