KemPharm Inc (NASDAQ:KMPH)
KemPharm, Inc. (KMPH), a clinical stage pharmaceutical company yesterday announced Phase 1 trial results of KP511. KP511 is an abuse deterrent, ER pain therapeutic. The trial results data is consistent with the preclinical animal model which showed an oral administration of KP511 does efficiently release hydromorphone.
KemPharm, Inc. CEO’s Comments
“We are pleased that KP511 continues to confirm our Ligand Activated Therapy (LAT) prodrug approach by delivering human pharmacokinetic data consistent with our preclinical animal model. The data from the Phase 1, proof-of-concept trial suggest that oral administration of KP511 in solution efficiently releases hydromorphone with a pharmacokinetic profile that is similar to Dilaudid Oral Liquid. This represents an important developmental milestone in the advancement of KP511 as an abuse-deterrent, ER pain therapeutic,” stated Travis C. Mickle, Ph.D., President and Chief Executive Officer of KemPharm. “The next steps are to finalize the clinical program for KP511/ER and the anticipated trials that will be used to assess tamper and extraction resistance, intranasal and intravenous abuse potential, as well as the potential to limit oral abuse and/or overdose.” Globe Newswire
KMPH Technical Analysis
KMPH opened trading yesterday at $3.65 which was up from the previous days trading of $3.62. KMPH closed trading yesterday at $3.86 and spiked up after market to $4.50, equivalent to a 17% increase from the closing price. Taking a look at the daily chart we can see the last time KMPH traded above these levels was on June 16th when it traded at $4.57. Taking a closer look at the daily chart we can see that KMPH has been in an downward trend dating back to April 25th when it traded at $18.47. KMPH has a float of 7.94 million shares and traded below the normal daily trading volume on Tuesday. For trading purposes, I would like to see KMPH open trading on Wednesday above $4.30 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.15 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
KemPharm, Inc., a clinical-stage specialty pharmaceutical company, discovers and develops new proprietary prodrugs in the United States. Its advanced product candidate is KP201/APAP, which consists of KP201 prodrug of hydrocodone formulated in combination with acetaminophen (APAP). The company is also developing KP201/APAP as an immediate release (IR) product candidate for the treatment of acute pain, as well as engages in designing KP201/APAP with abuse-deterrent properties to address the epidemic of opioid abuse. The company is also involved in developing KP201/IR (APAP-free), an IR formulation of KP201 without APAP for the short-term management of acute pain; KP511/ER, a prodrug of hydromorphone for the management of pain; KP415, a prodrug of methylphenidate for the treatment of attention deficit hyperactivity disorders; KP606/IR, an IR abuse-deterrent opioid product for the management of moderate to severe pain; and KP746, a prodrug of oxymorphone for the management of moderate to severe pain. KemPharm, Inc. was founded in 2006 and is headquartered in Coralville, Iowa.