Critical Therapeutics ( CRTX) bounded 30% Thursday morning after specialty pharmaceutical company Dey announced the Food and Drug Administration had approved a new drug application (NDA) for the asthma treatment Zyflo CR. The NDA is for twice-daily, extended-release tablets, also known as zileuton. Critical Therapeutics, a Lexington, Mass. biopharmaceutical company, and Dey, which is affiliated with Germany's Merck KGaA, will co-market the drug according to an agreement they made in March. Zyflo and Zyflo CR are the only FDA-approved leukotriene synthesis inhibitors for the prophylaxis and chronic treatment of asthma in adults and children age 12 and older, the companies said. Critical Therapeutics was up 76 cents, to $3.43 in morning trading.
Stocks soar as the gross domestic product rises at an annualized rate of 3.5% in the third quarter and continuing jobless claims fall. Gregg Greenberg recaps the action in The Real Story video (above).