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Last C$5.37 CAD
Change Today +0.01 / 0.19%
Volume 21.9K
NRI On Other Exchanges
As of 3:40 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

nuvo research inc (NRI) Snapshot

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01/29/15 - C$10.38
52 Week Low
08/5/14 - C$2.57
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nuvo research inc (NRI) Details

Nuvo Research Inc., a specialty pharmaceutical company, researches, develops, and commercializes pharmaceutical products in Europe, Asia, and South America. The company has four commercialized products; a pipeline of topical and transdermal products focusing on various therapeutic areas, including pain and dermatology; and multiple drug delivery platforms that support the development of patented formulations that can deliver actives into or through the skin. Its topical pain products include Pennsaid, a non-steroidal anti-inflammatory drug that is used for the treatment of the pain of knee osteoarthritis; Pennsaid 2%, a follow-on product to Pennsaid for the treatment of pain of knee osteoarthritis; and Pliaglis, a topical local anaesthetic cream, which provides local dermal anaesthesia on intact skin prior to superficial dermatological procedures, such as dermal filler injection, pulsed dye laser therapy, facial laser resurfacing, and laser-assisted tattoo removal, as well as heated lidocaine/tetracaine patch, a topical patch that provides local dermal analgesia for superficial venous access and superficial dermatological procedures. The company’s immunology products comprise WF10, an immune system modulating drug containing chlorite and chlorate ions; and Oxoferin, a topical wound healing agent containing the active ingredient in WF10 at a lower concentration. The company was formerly known as Dimethaid Research Inc. and changed its name to Nuvo Research Inc. in September 2005. The company was founded in 1983 and is based in Mississauga, Canada.

69 Employees
Last Reported Date: 05/12/15
Founded in 1983

nuvo research inc (NRI) Top Compensated Officers

Co-Chief Executive Officer, President and Dir...
Total Annual Compensation: C$190.9K
Chairman and Co-Chief Executive Officer
Total Annual Compensation: C$190.9K
Chief Financial Officer and Vice President
Total Annual Compensation: C$260.0K
Director and President of Europe & Immunology...
Total Annual Compensation: C$343.8K
Vice President, General Counsel and Corporate...
Total Annual Compensation: C$245.0K
Compensation as of Fiscal Year 2014.

nuvo research inc (NRI) Key Developments

Nuvo Research Inc. Receives Approval from German Federal Institute for Drugs and Medical Devices

Nuvo Research Inc. has received approval from the German Federal Institute for Drugs and Medical Devices (BfArM) to conduct a placebo controlled Phase 3 trial of Pennsaid 2% for the treatment of acute ankle sprains. The 124 patient trial will be conducted in Germany commencing early July of 2015. The trial is intended to support regulatory applications for marketing approval of Pennsaid 2% in the E.U., Canada and certain other international territories.

Nuvo Research Inc. Receives Health Canada Approval to Conduct New WF10 Phase 2 Trial

Nuvo Research Inc. announced it has received Health Canada approval to conduct a new Phase 2 clinical trial (the 2015 WF10 Trial) to assess WF10 for the treatment of allergic rhinitis. The 2015 WF10 Trial will commence this month. It will be a randomized, double-blind, placebo-controlled, single-center trial to assess the efficacy, safety and tolerability of a regimen of five WF10 infusions. The trial will enroll patients who have a moderate to severe allergy to grass and ragweed pollen and will build on learnings derived from previous WF10 allergic rhinitis studies run in 2010 and 2014 (the 2010 WF10 Trial and 2014 WF10 Trial, respectively). Patients' symptoms have already been recorded prior to commencement of the 2015 WF10 Trial in an Environmental Exposure Chamber, and will be recorded in the field during the grass and ragweed allergy seasons and again in the EEC after completion of the ragweed season. The 2015 WF10 Trial is expected to enroll approximately 146 patients and to be completed with topline results available in late fourth quarter of 2015 or early first quarter of 2016. The trial will be conducted in southern Ontario, Canada by Inflamax Research Inc. (Inflamax), a full service, specialty Contract Research Organization that specializes in allergy, respiratory and EEC studies. Nuvo's external costs of conducting the trial will be approximately CAD 5.0 million. If the 2015 WF10 Trial is successful, the Company plans to continue WF10 development in an independently financed entity that will include the participation of Nuvo shareholders. While Nuvo's management is optimistic that the 2015 WF10 Trial will generate positive results, should the trial be unsuccessful, the Company plans to discontinue WF10 development. The company has taken steps to curtail spending on a number of WF10 projects and studies planned for 2015 until results of the 2015 WF10 Trial are available.

Nuvo Research Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Nuvo Research Inc. announced consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue of CAD 4.5 million compared to CAD 2.8 million a year ago. Net loss was CAD 0.3 million or CAD 0.03 per basic and diluted share compared to CAD 2.7 million or CAD 0.31 per basic and diluted share a year ago. The increase in revenue was primarily related to higher Pennsaid 2% product sales to Horizon plc (Horizon) in the U.S. market to support their launch of Pennsaid 2%, combined with increased Pennsaid product sales to distributor in Greece. The improvement in net loss in the current period was attributable to higher Pennsaid and Pennsaid 2% product revenue and a decrease in operating expenses in the current period, offset by lower royalty revenues.  Cash used in operating activities was CAD 1.7 million for the three months ended March 31, 2015 compared to CAD 0.9 million for the three months ended March 31, 2014.  In the quarter, the company used CAD 0.2 million of cash in its operations and invested CAD 1.4 million in non-cash working capital.


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