Lannett (LCI) Gains 20% In 5 Days - What's The Buzz?

(RTTNews) - Shares of Lannett Company Inc. (LCI) have gained more than 20 percent over the last five trading days.

Lannett, which manufactures, markets and distributes generic versions of brand pharmaceutical products, has a robust portfolio of over 100 marketed products. The Company also has a strong pipeline with about 60 products in its pipeline.

Earlier in the week (Jan.13), the FDA approved Cocaine Hydrochloride (HCl) Nasal Solution 4% (40 mg/mL), the Company's branded local anesthetic product. This approval is the first NDA approval to include full clinical trials in the Company's history. The product is expected to be launched shortly, under the brand name NUMBRINO.

Last month, the Company announced positive results from the first human study evaluating biosimilar Insulin Glargine against the reference drug, FDA-approved Lantus.

Insulin glargine is a long-acting insulin used to treat adults with Type 2 diabetes, as well as adults and pediatric patients with Type 1 diabetes, for the control of high blood sugar.

Lannett is planning to meet with FDA in the coming months to plan the next steps for the clinical advancement of biosimilar insulin glargine.

The Company is slated to report financial results for fiscal 2020 second quarter in the first week of February.

LCI has traded in a range of $5.16 to $15.52 in the last 1 year. The stock closed Thursday's (Jan.16, 2020) trading at $10.05, up 7.03%.