“2018 was a foundational year for ZILRETTA, and in the first full year of the launch, we saw strong product uptake as we established a broad and growing base of prescribers. Furthermore, the clinical feedback on ZILRETTA from physicians and patients alike continues to be overwhelmingly positive and gratifying,” said Michael Clayman, CEO.
On Wednesday, the Burlington, Massachusetts-based biotech company announced that it enrolled the first patient in the Phase 3 trial of ZILRETTA in late December 2018. This hip osteoarthritis trial is expected to be completed in the year 2020. Flexion also plans to initiate additional Phase 2 studies of ZILRETTA in the shoulder later this year.
Bristol-Myers Squibb swallows Celgene for $74-bln; Celgene stock surges
Flexion stock, which plunged to a yearly low ($11.14) on December 24, 2018, had dropped 52% in the past year. The stock ended Thursday’s trading session down 1,04% at $12.33 and is expected to hit a new 52-week low tomorrow as the preliminary results disappointed the investors.