Somaxon Pharmaceuticals Inc. (NASDAQ: SOMX) yesterday announced the establishment of a commercial team to promote Silenor® (doxepin) for the treatment of insomnia.
Somaxan reported that it has entered into a Professional Detailing Services Agreement with Publicis Touchpoint Solutions Inc. Under the agreement, Somaxon will be provided with 100 sales representatives by Publicis on a contract basis. These representatives will exclusively promote Silenor. As per the agreement, the representatives will be employees of Publicis, however, they will be recruited as per Somaxon’s specifications and will be managed by a team of sales management personnel recently recruited by Somaxon.
Richard W. Pascoe, Somaxon’s president and CEO said that the company is excited as it continues to execute its corporate strategy by recruiting a dedicated specialty sales team for Silenor, which will assist in targeting highest prescribers of insomnia drugs. Pascoe also said that in addition to this development, the company is also engaged in discussions with third parties relating to the commercialization of Silenor. He said that the company believes that the specialty sales force structure and its marketing plan will provide it with the flexibility required to support the promotional efforts of any strategic collaborator in the marketing of Silenor.
Shares of SOMX surged 10.65% to $4.05 at noon today.
The small cap stock has a 52-week range of $0.90-$10.60. It is currently trading below its 50-day and 200-day moving averages of $5.07 $3.95, respectively. The small cap stock has seen support at $2.91 and has met with resistance at $3.92.
San Diego, California-based, Somaxon focuses on in-licensing, development and commercialization of proprietary branded pharmaceutical products.
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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
