Acura Pharmaceuticals Inc. (OTCMKTS:ACUR) was up 9% after announcing the amendment of a licensed development and commercialization agreement with Abuse Deterrent Pharmaceuticals LLC regarding the LIMITx LTX-03 treatment candidate.
On Tuesday, ACUR stock surged 9% to $0.4680 with more than 12k shares traded, compared to its average volume of 8.6K shares. The stock moved within a range of $0.4375 – 0.4700 after opening trading at $0.44.
Acura Pharmaceuticals and AD Pharma Amend License to LIMITx™ LTX-03
The agreement seeks to extend the FAD Acceptance Date for the product to December 31, 2022. Acura expects to finalize clinical studies and necessary steps for filing an NDA and receive a regulatory acceptance by the end of the year.
According to the latest reports, an increasing number of real pain patients are remaining untreated because doctors are no longer prepared to help them as a result of stricter prescribing rules linked to the opioid epidemic. Suicide is becoming more widely accepted as the sole option for these people suffering from an opioid overdose
LIMITx seeks to be a treatment that provides effective pain management at one- or two-tablet dosages while also protecting against overdosing by restricting high record highs of painkillers in the bloodstream (Cmax) which can cause respiratory failure and fatality when taken in excess of the prescribed amount. So, ACUR is worth watching.
ACUR stock is trading below the 50-Day and 200-Day Moving averages of $0.49 and $0.53 respectively. However, the stock is above the 20-Day moving average of $0.45.