Somaxon Pharmaceuticals (SOMX-$1.59) shares rallied about 30 percent Thursday on a surge in volume after the company's CEO said in an interview that it would continue to seek approval for its insomnia drug.
CEO Richard Pascoe told BNet.com that data collected for its sleep drug Silenor, which was contained in the company's new drug application, demonstrated sustained subjective efficacy in the adult population and that the drug effect wasn't lost over the treatment period of 30 days.
Read Interview:
An Interview With Somaxon Pharma Ceo Pascoe (Part II): Promise and Problems With Sleep Drug Silenor
An Interview With Somaxon Pharma CEO Pascoe (Part I): Efficacy and Uncertainty of Sleep Drug
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
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