DALLAS, April 29, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Somaxon Pharmaceuticals Inc. (Nasdaq:SOMX). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/SOMX
Somaxon Pharmaceuticals Inc. (SOMX) is a specialty pharmaceutical company focused on the in-licensing and development of product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area. On March 18, 2010, the food and drug administration (FDA) notified the Company that it approved its New Drug Application (NDA) for Silenor (doxepin) 3 milligram and 6 milligram tablets for the treatment of insomnia characterized by difficulty with sleep maintenance. Silenor is an oral tablet formulation of doxepin at strengths of 3 milligram and 6 milligram. Doxepin has been marketed from 75 milligram to 300 milligram per day and is indicated for the treatment of depression and anxiety. The Company's clinical development program for Silenor included four phase III clinical trials, and the primary efficacy endpoint achieved statistical significance in each trial.
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In the report, the analyst notes:
"For the 2009 fiscal year, net loss was $14.4 million, or $0.69 per share, compared with $37.2 million, or $2.04 per share, for the 2008 fiscal year. For the fourth quarter of 2009, net loss was $1.9 million, or $0.08 per share, compared with $9.5 million, or $0.52 per share, for the fourth quarter of 2008.
"SOMX recently announced the appointment of Tran B. Nguyen as vice president and CFO. The Company also announced other executive management team updates. Nguyen brings to SOMX more than 10 years of finance experience primarily focused in the life science industry. Nguyen was most recently CFO of Metabasis Therapeutics Inc., a publicly traded biopharmaceutical company that was acquired by Ligand Pharmaceuticals Inc. in January 2010."
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