Aratana Therapeutics Inc (NASDAQ: PETX) is having a pretty strong start to the trading session today, and for good reason. The company provided a positive update with regard to Entyce(R), exciting investors and sending the stock upward. Of course, our partners at Trade Ideas were the first to alert us to the movement. Currently (9:32), PETX is trading at $6.20 per share after a gain of $0.16 per share or 2.65% thus far today.
PETX Provides Positive Update
As mentioned above, Aratana Therapeutics is having a strong start to the day after announcing updates with regard to Entyce. The company said that it has met with the US FDA center for veterinary medicine regarding the proposed manufacturing transfer of entyce. They believe that it is in agreement with CVM on how to proceed.
If the PETX submission is approved, the company believes that the treatment will become commercially available by fall of 2017. The company also said that it intends a resubmission in the coming weeks in order to get the process rolling.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PETX. In particular, we’re interested in following the company through the process of making entyce commercially available. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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