Las Vegas, NV -- (SBWIRE) -- 02/05/2013 -- A.P. Pharma, Inc. (OTC:APPA) has its fingers crossed for APF530 which is developed from the company’s proprietary Biochronomer polymer based drug delivery system. According to company’s new system a drug which is injected once or twice a day will be required to consume only once in two or three weeks.
A.P. Pharma Inc’s new systems will benefit patients miraculously related to chemotherapy related nausea. The company not only will be benefiting drug sales but also anticipates that its Biochronomer technology will be legitimized.
The company reported cash and cash equivalents of $60 million in its last quarterly balance sheet.This shows that the company has enough funds to move toward the step of product launch. The company’s total balance sheet footing accumulates up to $61.76 million which depicts that cash and current assets have the highest proportion in company’s total assets while long term assets are stood at $0.13 million.
The share price witnessed the correction of 0.65 percent in last trading session to settle at $0.770. Share was traded actively with 2.23 million shares for the day while its average volume stands at 1.38 million shares per day.
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