Apr 9 2010
StockPreacher.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: http://www.stockpreacher.com/n/SOMX
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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. Doxepin has been marketed from 75 milligram to 300 milligram per day and is indicated for the treatment of depression and anxiety. 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.
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In the report, the analyst notes:
"For the 2009 fiscal year, net loss was $14.4 million, or $0.69 per share, compared with $37.2 million, or $2.04 per share, for the 2008 fiscal year. For the fourth quarter of 2009, net loss was $1.9 million, or $0.08 per share, compared with $9.5 million, or $0.52 per share, for the fourth quarter of 2008.
"SOMX said recently that it raised $52.8 million after expenses by selling 6.9 million new shares of stock. The Company announced plans to sell 6 million shares at a price of $8.25 each. The underwriters of the offering exercised their options to buy another 900,000 shares to cover demand. Jefferies & Co. Inc. acted as sole book-running manager in the offering. The co-manager in the offering was Oppenheimer & Co."
SOURCE StockPreacher.com