Belmac Corp. (ASE:BLM) announced last week that it hascompleted Phase I trials in the U.S. on its transdermal anti-hemorrhoidal patch, Alphanon.
Alphanon is a formulation of camphor that acts as an anti-inflammatory and vasorelaxant. The patch has been co-developed by Belmac of Tampa, Fla., and Alza Corp. of PaloAlto, Calif.
Recognizing that Phase II and III trials "will require substantialsums and several years of testing," the company is consideringseveral options as to how to conduct those trials, according toMichael Harshbarger, Belmac's president and chief operatingofficer. These include using the company's own productdevelopment funds, co-developing the hemorrhoid medicationwith another company, or an outright divestiture. Becausecontinued drug development will cost several million dollars,Belmac is "seriously considering other options," Harshbargersaid.
Belmac's stock closed at $3.25 a share on Monday, down 38cents.
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