As a quick follow up from my last article,Vibex MTX has took a new direction. The Medi-jet MTX has a new name and that name is OTREXUP. The CEO of Antares (NASDAQ:ATRS), Paul Wotton, has just said that they are going to have multiple uses for the new self injected drug. The original business model was for arthritis patients but they have now decided that there is another market for this product and that is for psoriasis treatment. There are over seven million psoriasis sufferers in the United States alone and the number continues to climb. Antares seems to think that their new self injected device will fit that growing market as well
Filing for FDA approval for the new OTREXUP will be in three weeks, which should be the first week of January 2013. Remember, management first said this past Summer that the NDA filing would be sometime in the first half of 2013 and then recently changed it to Q1 of 2013. Now they have bumped up the NDA filling for the first week of the new year. You do not have to light a fire under this management as they seem excited and very willing to get this product out on the market. After just listening to the web call at the Oppenheimer Healthcare Conference, I can understand why. Antares will be the first and only company in the Untied States with a self administered product that treats RA patients with a device using the subcutaneous method, or SC MTX for short. This new news should be welcomed by investors being that the OTREXUP self injected device has blockbuster potential and will be on the market no later than Q1 of 2014. But again, do not let the date fool you. Management has constantly bumped up their timeline and I would be shocked if this product is not on the market come Q4 of 2013. I can say this because Antares is gearing up and have already hired 30 plus sales reps to accommodate the 3000 rheumetologist that are lined up to use this method of treatment for arthritis and psoriasis patients.
Also, it is worth noting, Antares is in search of a partner for International use of their OTREXUP product. I would think,after listening for the demanding need here in the States, it should not be hard to find one.
Disclosure: I am long ATRS.