LONDON (Alliance News) - Shares in Plethora Solutions Holdings PLC jumped 33% Tuesday morning after it said it was in negotiations with a number of potential marketing partners for its premature ejaculation treatment PSD 502.
The company said following its meeting with the US Food and Drug Administration in the first quarter, the FDA had confirmed that premature ejaculation is an area of "high medical need".
Plethora said it had now "unambiguously defined the path to a successful submission of the new drug application" for PSD 502.
The biotechnology company said that it is making "excellent progress" with its preferred manufacturing partner, and that it had received expressions of interest from several potential marketing partners for out-licensing PSD 502 in the US, EU and other territories.
Shares in Plethora were trading at 11.81 pence Tuesday morning, up 2.81p, having touched an intraday high of 12.85p.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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