The pharmaceutical firm Egalet Corporation of Wayne reported Aug. 11 it is seeing top-line results from two out of three bioequivalence studies for Egalet-001, its abuse-deterrent pain medication in development.

The company also released its recent 2014 financial results, showing it has $69.3 million cash on hand as of June 30.  The firm continues to spend capital on compensation, operating expenses, and clinical, research and manufacturing development.

Revenues increased from zero for the second quarter of 2013 to $490,000 for the second quarter of 2014.  Research and development expenses increased to $7.4 million for the second quarter, and general and administrative expenses hiked to $4.7 million for that quarter due to continued investment. The company showed a net loss of $11.7 million for the second quarter, up from a net loss of $3.7 million in that quarter in 2013.

“Our mission is to bring medications to those living with chronic pain and offer patients and physicians peace of mind by delivering them in an abuse-deterrent formulation,” said Bob Radie, Egalet’s president and chief executive officer.

“Our top-line results from our Category 1 abuse deterrence studies demonstrated how our lead product candidate, Egalet-001, has strong abuse-deterrent characteristics, including resistance to one of the most common routes of morphine abuse, intravenous injection.”

Since last November Egalet has also been collaborating with the firm Shionogi to develop abuse-deterrent hydrocodone based products.  Egalet’s Guardian Technology may be applied broadly across different classes of pharmaceutical products.  Egalet has 58 patents.

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