MALVERN, Pa., May 8, 2013 /PRNewswire/ -- Egalet Ltd., a privately held specialty pharmaceutical company focused on developing safe, effective and abuse-deterrent medications, announced today the appointment of Stan Musial as chief financial officer (CFO). "The addition of Stan to the management team comes at a critical time as the most advanced products in Egalet's pipeline of abuse-deterrent opioids are nearing phase 3," said Bob Radie, president and CEO. "Stan's finance experience will be invaluable as we move our pipeline through development and ultimately to the commercial market." Stan has held senior financial management positions for both publicly-held and privately-held companies, becoming experienced in executing growth strategies, raising capital, and mergers and acquisitions. Stan most recently spent six years as vice president of finance and administration, chief financial officer, treasurer and secretary of Prism Pharmaceuticals, a specialty pharmaceutical company, which was successfully sold to Baxter Healthcare in 2011. Prior to joining Prism he held the position of vice president, finance, and CFO for Strategic Diagnostics, Inc. (SDIX), a publicly-held biotechnology company. He began his career with KPMG LLP. Stan holds an MBA in finance from Temple University and a B.S. degree in accounting from Pennsylvania State University and is a Certified Public Accountant. "I am excited to join Egalet—a company seeking to advance its pipeline of abuse deterrent opioids by taking advantage of the expedited 505(b)(2) regulatory pathway to address the growing need for safe pain medicines," said Stan Musial. About Egalet Ltd. Egalet Ltd. is a European-based specialty pharmaceutical company using its patented technology to produce novel therapeutics on its own and with partners. Based on the proprietary technology, Egalet is developing a pipeline of abuse-deterrent opioids that are nearing pivotal testing. In addition, Egalet has collaborations with pharmaceutical and biotechnology companies in the initial phase of clinical testing. Egalet has pioneered one of the world's first erosion-based delivery technologies to enable the controlled release of drugs through gradual erosion of a tablet. In addition, the Egalet® technology, a novel, patented drug delivery platform, is designed to prevent easy extraction and to deter the abuse of medications via known routes of abuse, including chewing, snorting, and injecting. The uniquely shaped, patient-friendly tablet consists of matrix and can add a shell or coat. By altering the composition of the shell and matrix, a variety of extended-release formulations can be produced. The technology offers a predictable and tailored pharmacokinetic profile, lacks a significant food effect and alcohol dose dumping, and can be used with a broad range of opioids and non-opioids. Egalet has an extensive portfolio of both filed patents and patent applications to protect its inventions covering both the platform technology and specific products. Please visit www.egalet.com for more information. Contact: E. Blair Schoeb Tel.: 917-432-9275 Email: email@example.com SOURCE Egalet Ltd.
Shares of Strategic Diagnostics (Nasdaq:SDIX) have taken a tremendous swing upward. The stock is trading at $2.68 as of 12:22 p.m. ET, 20.7% above Thursday's closing price of $2.22. Volume is at 295,904, 8.7 times the daily average of 34,200.