NEW YORK (TheStreet) -- Pernix Therapeutics (PTX - Get Report) soared more than 35% to a one-year high of $6.10 on Wednesday after the pharmaceutical company announced it would acquire the U.S rights to Treximet in an agreement with GlaxoSmithKline (GSK).
Treximet is used for the acute treatment of migraine attacks with or without aura in adults. Pernix announces it expects the acquisition to close no later than Aug. 1.
Pernix also said it expects pro forma total revenue for the full year 2015 to exceed $230 million and sees EBTIDA margin greater than 40%.
Must Read: Warren Buffett's 10 Favorite Growth StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The stock was up 32.71% to $5.68 at 12:02 p.m. Nearly 5 million shares had changed hands, well above the average volume of 393,211. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.