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AmpliPhi BioSciences Corp's Stock Volume Surges after CEO Resigns

Thursday, 25 September 2014 09:11 AM

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Five days after AmpliPhi BioSciences Corp. (OTCQB: APHB) announced the sudden resignation of its CEO Philip Young, its stock volume is surging.

On Sept. 24, 1.2 million of the Glen Allen, Va.-based biotech company’s shares changed hands, nearly 10 times its 30-day average volume of 124,297 shares.

The big news came in a terse Sept. 19 press release.

Curnock Cook Named Interim CEO

"Philip J. Young has stepped down from his role as President and CEO. Mr. Young's resignation was by mutual agreement with AmpliPhi’s Board of Directors with his departure from the company being effective Monday, Sept. 15, the release said.  

The company also announced that AmpliPhi's Chairman, Jeremy Curnock Cook, will serve as Interim CEO and Wendy Johnson, a member of AmpliPhi's Board or Directors, will serve as Interim COO, overseeing the company's operations until a new CEO is appointed.

On Sept. 24, APHB’s share value closed at 24 cents, unchanged from its closing price of the previous day.

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Elite Pharmaceuticals Reports Positive Study Results

Positive results from a new study has caused Elite Pharmaceuticals Inc.’s (OTCBB: ELTP) shareholders to take notice.

The Northvale, N.J.-based pharmaceutical company’s (OTCBB: ELTP) share volume was slightly higher than it 30-day average volume of 1.6 million on Sept. 24, with 1.9 million shares changing hands.

This slight uptick in volume comes on the heels of a Sept. 9 announcement made by the company that a recent study on its opioid abuse deterrent technology found that 80.6% of the subjects experienced a decrease in drug craving when they used its intranasal treatment.

While this appears to be positive news, some industry observers caution that Elite Pharmaceuticals is still a long way from bringing such a product to market.

About Elite's Abuse Deterrent Technology

Elite's abuse deterrent products utilize the company’s proprietary pharmacological abuse deterrent technology.

The technology is a multi-particulate capsule which contains an opioid agonist in addition to naltrexone, an opioid antagonist. Naltrexone is an opioid receptor antagonist used primarily in the management of alcohol dependence and opioid dependence.

When this product is taken as intended, the naltrexone is designed to pass through the body unreleased while the opioid agonist releases over time providing therapeutic pain relief for which it is prescribed.

If the multi-particulate beads are crushed, the opioid antagonist, naltrexone, is designed to release. The absorption of the naltrexone is intended to block the euphoria by preferentially binding to same receptors in the brain as the opioid agonist and thereby reducing the incentive for abuse or misuse by recreational drug abusers.

On Sept. 24, ELTP’s share value closed at 30 cents, unchanged from its closing price of the previous day.

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Titan Pharmaceuticals Volume Surges on News of Phase-3 Study

Titan Pharmaceuticals Inc. (OTCQB: TTNP) recent press releases are spreading sunshine about the progress being made in developing a treatment for those dependent on pain-killing drugs.

The San Francisco-based pharmaceutical’s stock volume soared Sept. 24, with 564,148 shares changing hands, nearly 4 times its 30-day average volume of 150,016 shares.

The sudden surge comes two days after the company announced that patient enrollment in its Phase 3 study of Probuphine®, the company's investigational subdermal implant for the maintenance treatment of opioid dependence, has reached the halfway mark.

Titan's partner, Braeburn Pharmaceuticals, is sponsoring the study and expects it to be fully enrolled before the end of this year, with study completion on schedule by the middle of 2015. The study is designed to support resubmission of the New Drug Application for Probuphine with the U.S. Food and Drug Administration, which is expected later in 2015.

This study currently includes 21 clinical research sites and is expected to enroll approximately 180 patients. As of Sept. 22, all 21 sites are actively recruiting subjects, and there are already 94 subjects randomized in the study.

On Sept. 24, TTNP’s share value closed at 52 cents, unchanged from its closing price of the previous day.

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