Greenwich Pharmaceuticals Inc. announced Monday that FDA isreviewing the company's new drug application for its firstmajor drug to treat rheumatoid arthritis.
The Fort Washington, Pa., company (NASDAQ:GRPI) has beendeveloping therafectin since 1979. This synthetic carbohydratederivative, amiprilose hydrochloride, is intended to blockautoimmune responses that lead to the joint disease.
Carbohydrates bind cell surface receptors and mediateresponses involved in immune reactions. Greenwich is pursuingcompounds to influence arachodonic acid metabolism, cellularproliferation and T cell lymphocyte activity.
The company's stock gained 13 cents a share on Monday,closing at $6.50.
(c) 1997 American Health Consultants. All rights reserved.