Shares of Anesiva ( ANSV) got a small bump Tuesday after the biopharmaceutical company announced positive top-line results from a phase III trial of Zingo in adults. Zingo is a powder injected intradermally three minutes before patients undergo IV insertions or blood draws. The 699-patient study met the primary endpoint of a reduction in venous procedural pain, and subsequently Anesiva plans to file a supplemental new-drug application with the Food and Drug Administration in the first quarter of 2008 for the use of Zingo in adults. Positive results for the late-phase adult study were expected as Zingo was already approved in children 3 to 18 years old in August. The company recently announced it will hire a sales force of two sales directors and 15 sales representatives to support the launch of Zingo for pediatric use, as well as a co-promotion collaboration with Sagent Pharmaceuticals. Anesiva shares rose 20 cents, or 3%, to $6.71 in recent trading Tuesday.
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).