MAP Pharmaceuticals (NASDAQ:MAPP) Wins FDA Approval for Levadex; Stock Hikes – MAPP, AGN, PATH, ZGNX

The Mountain View, California based MAP Pharmaceuticals Inc’s (NASDAQ:MAPP) stock hiked on Friday after encouraging regulatory news on what could become the corporation’s primary approved product.

MAP reported that the United States Food and Drug Administration permitted the drug developer’s application for approval to vend its experimental migraine medicine, Levadex. MAP expects to launch the drug coming year.

Levadex would become the company’s primary product, potentially offering MAP steady revenue. MAP is offering Levadex through a partnership with Allergan, Inc (NYSE:AGN).

The FDA in March reported that it could not approve Levadex business the corporation addressed concerns linked to manufacturing and other issues.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Allergan, Inc. (NYSE:AGN) rose +1.18% to settle at $91.99, NuPathe Inc (NASDAQ:PATH) moved up +1.45% to end at $2.79 while Zogenix, Inc. (NASDAQ:ZGNX) jumped +3.21% to finish at $2.57 on Friday.

MAP Pharmaceuticals Inc. (NASDAQ:MAPP) last session’s volume of 1.52 million shares was surprisingly higher than its average volume of 292,925 shares. The stock after opening at $14.70 hit high price of $15.61 and then closed at $15.42 by scoring +20.28%.

The liquidity measure in recent quarter results of the company was recorded 9.28 as current ratio. The Company had total cash of $114.22 million at hand and a book value per share as $1.67 in the most recent quarter.

The stock’s price volatility was 4.84% for a week and 4.89% for a month as well as price volatility’s Average True Range for 14 days was 0.79 and its beta remained at 2.71.

MAPP generated revenue of $3.62 million in the previous twelve months and earned -$57.58 million.

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