Imprimis Spikes On New Composition Patent For Non-Opioid Sedative

Imprimis Pharmaceuticals Inc IMMY announced Tuesday its non-opioid, non-IV sedation formulation, MKO Melt, secured a patent for anesthesiological applications.

The product, which has been dispensed more than 70,000 times since debuting in 2015, is expected to see a market-share swell from recent changes in insurance coverage.

“This is even more important because Anthem Inc ANTM recently announced their plan to no longer cover IV sedation for cataract surgery,” investor relations associate Jon Patton said in an email.

Why It's Important

Cataract surgery is the primary procedure for which MKO Melt is applied, but Imprimis sees potential expansion into more than 100 million annual procedures in the U.S. spanning dental, dermatological, orthopedic and more.

The firm is an intentional disruptor of the growing pharmaceutical space and is known to entertain ambitions beyond the balance sheet.

What's Next

“We all know about the tragedy of the opioid crisis, in the midst of myriad of lawsuits against the big pharma companies that make those medicines, including one filed by the state of New York and the eventual FDA investigation into the labeling of those products, Imprimis, the company that has taken on Martin Shkreli and others (see Daraprim, Epi-Pen, Calcium EDTA), is once again taking action with it’s newly patented non-opioid sedation formulation,” Patton said.

Imprimis' MKO Melt compounded formulation is the subject of two IRB-approved clinical studies, the company said in a press release. The first is being prepared for submission for peer-review; the second is expected to be completed in 2018; and a third study, related to the pharmacokinetics of the MKO Melt, is being planned for completion in 2018.

At time of publication, Imprimis shares were trading up more than 9 percent at $1.95.

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