DALLAS, March 4, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring pharmaceutical company CombinatoRx Inc. (Nasdaq:CRXX). The report includes financial, comparative and investment analysis, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.beaconequity.com/i/CRXX
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CombinatoRx Inc. (CRXX) is a biopharmaceutical company focused on developing synergistic combination pharmaceuticals. The Company has devoted substantially all of its resources to the development of its drug discovery technology and the research and development of its drug candidates, including conducting pre-clinical and clinical trials and seeking intellectual property protection for its technology and product candidates. It has been advancing a portfolio of four product candidates, Synavive, CRx-102, CRx-401, CRx-191 and CRx-197, through clinical research and development, and has a number of product candidates that have either completed Phase IIa clinical trials or are in pre-clinical development.
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In the report, the analyst notes:
"As of September 30, 2009, CRXX had cash, cash equivalents, restricted cash and short-term investments of $22.2 million compared to $30.6 million on June 30, 2009, and $43.7 million on December 31, 2008. This decrease from June 30, 2009, is primarily due to $2.6 million in restructuring costs and $1.8 million in professional fees associated with the Company's ongoing strategic realignment and proposed merger with Neuromed.
"CRXX earlier this week announced that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application (NDA) for Exalgo(TM) (hydromorphone HCl) extended-release tablets, for the management of moderate to severe pain in opioid tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time."
To read the entire report visit: http://www.beaconequity.com/i/CRXX
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