Nastech Phase I Insulin Spray Study Positive

Nastech Pharmaceutical Company (NSTK) announced early Wednesday that its proprietary insulin nasal spray formulation had a faster insulin response than NovoLog insulin injection and Exubera Inhalation powder.

However, the insulin injection had a higher plasma concentration of insulin than the nasal spray.

The company suggested that it is the speed of the response that is relevant, especially for type 2 diabetics who have adequate supply of stored insulin but do not have the fast enough response following a meal.

According to Steven C. Quay, M.D., Ph.D., Chairman, President and CEO of Nastech:

We plan to conduct additional formulation work to increase both bioavailability and the duration of effect and will continue to develop insulin nasal spray based on its potential to become a safe and effective non-invasive insulin therapy for diabetes. The current study protocol has been expanded to include additional formulations and this study continues at this time.

Shares of Nastech closed at $16.20 on Tuesday, almost in the middle of its 52-week range of $11.15 to $23.14.

NSTK 1-yr chart:

Comments

[jimmy Turano:]

9/27/07 Like I have been saying all along and now
a turn of events. Jim Cramer now on his show this evening 9/26/07 said DON'T BUY NSTK, Wait until it's $12 dollars. Hows that Bombshell after so many Touts by Jim Cramer. Well at least he has seen the light all of a sudden and I have been right all along. Thank you SEEKINGALPHA for letting investors like me post our opinions!

2007 Sep 27 12:57 AM