Acura Pharmaceuticals, Inc. (NASDAQ:ACUR) announced that Acura has entered into a License and Development Agreement with Bayer Healthcare LLC to provide an exclusive worldwide license to Acura’s IMPEDE technology for use in an undisclosed methamphetamine resistant pseudoephedrine containing product and to jointly develop such product utilizing the IMPEDE technology for the U.S. market. Bayer has the right to negotiate for a worldwide license to the IMPEDE technology for additional products.
In spite of successful industry-wide efforts to curb the diversion of pseudoephedrine containing cold and allergy products to the illegal production of methamphetamine, the issue continues to affect many communities. Methamphetamine is a highly addictive drug and its production can be highly flammable resulting in substantial costs for clean-up, hospitalization and treatment of addiction. Legitimate pseudoephedrine consumers have been faced with an increasing array of purchase requirements, including monthly purchase limitations and, in some cases, requiring a physician’s prescription, in an effort to reduce the impact of pseudoephedrine diversion.
Acura’s IMPEDE methamphetamine resistant technology is available in the US in its NEXAFED® immediate-release products. IMPEDE technology has demonstrated significantly reduced yields of methamphetamine compared to traditional formulations in laboratory tests and has been associated with a reduction in methamphetamine laboratories in local markets of up to 90%.
Bob Jones, Acura’s President and CEO, commented, “We’re excited to have a partner that brings highly valued development expertise and is committed to addressing the methamphetamine problem.” (Original Source)
Shares of Acura closed yesterday at $0.83 . ACUR has a 1-year high of $1.18 and a 1-year low of $0.41. The stock’s 50-day moving average is $0.79 and its 200-day moving average is $0.67.
On the ratings front, MLV & Co. analyst Vernon Bernardino maintained a Buy rating on ACUR, with a price target of $1, in a report issued on May 1. The current price target represents a potential upside of 20.5% from where the stock is currently trading.
According to TipRanks.com, Bernardino has a total average return of -1.6%, a 44.3% success rate, and is ranked #3031 out of 3629 analysts.
Acura Pharmaceuticals Inc is a pharmaceutical company. It is engaged in the research, development & manufacture of productto address medication abuse & misuse, utilizing the Company’s proprietary, tamper-resistant AVERSION& IMPEDEtechnology platforms.