Gad Riesenfeld, PhD, Discusses Company Milestones and Industry Size in Exclusive www.Wallst.net Interview
Friday July 11, 7:00 am ET
NEW YORK, July 11, 2003 (PRIMEZONE) -- Currently in advanced Phase 3 clinical trials of testing Dexanabinol, a drug used to treat traumatic brain injury (TBI), Pharmos Corporation (NasdaqSC:PARS - News) is poised to tackle a $1 billion market for the product, the company's President and Chief Operating Officer, Gad Riesenfeld told wallst.net.
The drug is the only TBI treatment that is in an advanced testing phase, Riesenfeld said. Pending FDA approval, Pharmos has expanded their centers for research adding 15 more in the United States in the near future. With 60 medical testing centers worldwide existing already, Dexanabinol has seen expansive testing to date.
Riesenfeld said that once the drug gains FDA approval it will be sold for $5 thousand for a single IV. Currently, he added, there are ``about 2 million brain injuries in the United States annually, and about 150 thousand of those are labeled as severe traumatic brain injuries.'' The potential annual market within the United States is $500 million, and nearly the same in Europe, Riesenfeld said.
The company plans to partner with a larger pharmaceutical company to market their innovation once they gain approval from the FDA, he said.
``By the end of this year, or at the latest, in early 2004, we shall complete the enrollment for the traumatic brain injury study, and we should un-blind the data by late 2004,'' Riesenfeld said.
To hear the entire interview, visit wallst.net. |
