Nastech Phase I Insulin Spray Study Positive

Nastech Pharmaceutical Company (NSTK) announced early Wednesday that its proprietary insulin nasal spray formulation had a faster insulin response than NovoLog insulin injection and Exubera Inhalation powder.

However, the insulin injection had a higher plasma concentration of insulin than the nasal spray.

The company suggested that it is the speed of the response that is relevant, especially for type 2 diabetics who have adequate supply of stored insulin but do not have the fast enough response following a meal.

"We plan to conduct additional formulation work to increase both bioavailability and the duration of effect and will continue to develop insulin nasal spray based on its potential to become a safe and effective non-invasive insulin therapy for diabetes. The current study protocol has been expanded to include additional formulations and this study continues at this time.", Steven C. Quay, M.D., Ph.D., Chairman, President and CEO of Nastech.

Shares of Nastech closed at $16.20 on Tuesday, almost in the middle of its 52-week range of $11.15 to $23.14.

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