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Avilar Therapeutics has appointed Adam Muzikant, PhD, as the new Chief Business Officer, bringing 18 years of experience in business development and strategic partnerships. Previously, he served at Flexion Therapeutics, where he contributed to a sale valued at up to $1 billion. Dr. Muzikant will oversee corporate and business development efforts at Avilar, focusing on their innovative ATAC protein degradation platform. The leadership transition aims to leverage his expertise to enhance growth and expand the company's pipeline of novel degraders.
Pacira BioSciences, Inc. (Nasdaq: PCRX) has announced its acquisition of Flexion Therapeutics, Inc. (Nasdaq: FLXN) at $8.50 per share in cash. The transaction includes a contingent value right (CVR) worth up to $8.00 per share, linked to sales and regulatory milestones. Flexion, known for its non-opioid therapies like ZILRETTA, adds value to Pacira's portfolio aimed at addressing pain management needs. The acquisition is expected to enhance revenue and create synergies, driving earnings growth. The deal is projected to close in Q4 2021, pending approvals.
Flexion Therapeutics (Nasdaq: FLXN) announced the grant of 6,315 restricted stock units to three new employees, approved by the Board of Directors as of October 1, 2021. These grants are intended as inducements for employment, in compliance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units will vest over four years, with 25% vesting on each annual anniversary of the vesting commencement date, contingent on the employees' continued service. This action is part of the company's strategy to attract and retain talent.
Flexion Therapeutics (Nasdaq:FLXN) announced that CEO Michael Clayman will participate in a virtual fireside chat at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. The presentation will be available as an on-demand webcast starting at 7 a.m. ET on September 13 and can be accessed through the Flexion website. Flexion focuses on developing local therapies for musculoskeletal conditions, including osteoarthritis. For more details, visit Flexion's Investor Relations page.
Flexion Therapeutics (Nasdaq:FLXN) announced that Dr. Michael Clayman, President and CEO, will participate in an analyst-led fireside chat at the Wells Fargo 2021 Virtual Healthcare Conference. The chat is set for September 9, 2021, at 4:35 p.m. ET. Interested individuals can access the live webcast on the Flexion website.
Flexion Therapeutics focuses on innovative, localized treatments for musculoskeletal conditions, particularly osteoarthritis, the most prevalent form of arthritis.
Flexion Therapeutics (Nasdaq:FLXN) announced that the American Academy of Orthopaedic Surgeons (AAOS) has included its product ZILRETTA in updated guidelines for managing osteoarthritis (OA) of the knee. The guidelines endorse the use of intra-articular corticosteroids and highlight ZILRETTA’s efficacy in improving patient outcomes compared to immediate-release corticosteroids. The AAOS's recommendations are based on the review of 25 studies, reinforcing ZILRETTA's role in treating OA knee pain.
Flexion Therapeutics (Nasdaq:FLXN) announced an expansion of its Phase 1b clinical trial for FX301 in bunionectomy patients, following positive initial findings. The trial will include an additional 36 patients to further assess FX301's safety and efficacy as a pain relief option. Results from this expanded cohort are anticipated by year-end. FX301 is designed as a localized NaV1.7 inhibitor to provide three to five days of post-operative pain relief while preserving motor function. The decision to expand follows an independent Safety Monitoring Committee's review of safety data.
Flexion Therapeutics (Nasdaq: FLXN) announced positive results from a Phase 2 trial of ZILRETTA (triamcinolone acetonide extended-release) for shoulder osteoarthritis (OA). The study, published in Drugs in R&D, showed that ZILRETTA resulted in approximately two-thirds lower total and maximal exposure to triamcinolone compared to crystalline suspension. Notably, no serious adverse events occurred. A registration trial for shoulder OA is anticipated to begin later this year, highlighting ZILRETTA's potential in managing shoulder pain, a condition lacking FDA-approved treatments.
Flexion Therapeutics reported Q2 2021 net sales of $28.2 million for ZILRETTA, marking a 15% increase from Q1. The net loss decreased by 32% year-over-year to $22.2 million. Flexion reaffirmed its full-year net sales guidance of $120-$130 million for ZILRETTA. The company has improved its cash runway into 2023 through a refinanced term loan, with a projected $59 million cash flow enhancement. Additionally, results for FX301 and FX201 studies are expected by year-end. Flexion's strategic decisions and pipeline progress are notable developments in its ongoing commercialization efforts.
Flexion Therapeutics (Nasdaq:FLXN) will release its second-quarter 2021 financial results on August 4, 2021, at 4:30 p.m. ET, after U.S. market close. The company specializes in developing local therapies for musculoskeletal conditions, particularly osteoarthritis. Investors can access a live webcast of the conference call via the Flexion website, and a replay will also be available post-call. For those wishing to ask questions, a dial-in number is provided for both domestic and international participants. Flexion emphasizes values such as focus and ingenuity in its operations.
