Zosano shares soar as its piv­otal mi­graine drug patch study comes through

Zosano Phar­ma­ceu­ti­cals $ZSAN went through a very bad year af­ter rais­ing $50 mil­lion in an IPO float­ed at the be­gin­ning of 2015. Its two big part­ners – Eli Lil­ly and No­vo Nordisk – both pulled out of their col­lab­o­ra­tions and Zosano’s ini­tial $11 share price was shred­ded.

This morn­ing, though, Zosano got a small piece of that lost mar­ket cap back af­ter the biotech re­port­ed that its mi­cronee­dle patch sys­tem for de­liv­er­ing an old mi­graine drug came through in a piv­otal Phase III study, set­ting up a cam­paign to file an NDA.

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