Pernix Therapeutics Holdings Inc (NASDAQ: PTX) is having an incredibly strong day in the market today. In fact, the stock is currently (12:17) trading at $3.14 per share after a gain of $0.24 per share (8.28%). While there has been no new news released surrounding the stock today, the gains are likely long over due.
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When we look at Pernix Therapeutics, we see a stock that has been held down for several months at this point. However, with a strong start to the new year, fueled by several great announcements, PTX is building itself in a position to have a strong 2018 year! Today, we’ll talk about recent concerns, how the company has resolved those concerns, and why this stock has a good chance of making 2018 a great year.
There Have Been Some Concerns Surrounding Treximet®
Treximet® has been a key driver of revenue for Pernix Therapeutics. However, there is a big concern surrounding the treatment. Unfortunately, with patents not lasting forever, and this treatments’ patents expiring, generic competition is a key concern. In fact, the company has been clear that revenue from Treximet sales in 2018 is expected to decrease significantly.
Nonetheless, PTX found a way to limit the losses here. In fact, the company recently announced the launch of an authorized generic version of Treximet® in the United States by its subsidiary, Macoven Pharmaceuticals, LLC. In a statement, John Sedor, Chairman and CEO at PTX, had the following to offer:
The availability of both a branded and authorized generic version of Treximet demonstrates that Pernix continues to view Treximet as an important part of its business… Through our launch of an authorized generic version of Treximet, Pernix is providing patients and providers with access to a lower-cost treatment for acute migraine headaches.