Recro Secures Manufacturing Contract From NIH For Nasal Spray Analgesic

Recro Pharma Inc REPH has been awarded a new development and manufacturing contract by the National Center for Advancing Translational Sciences at the National Institutes of Health (NIH).
The new contract is an individual $1.87 million task order that falls under an existing NIH parent contract previously awarded to IriSys, the San Diego-based CDMO that Recro recently acquired.
Related: Recro To Acquire IriSys For Around $50M, Q2 Earnings Top Estimates.
Under the new contract, the Company will support the Chemistry, Manufacturing, and Controls development of NES-100, a nasal spray analgesic.
NES-100 is a microparticle dosage form of leu-enkephalin (LENK) prepared by the encapsulation of LENK in a molecular enveloped technology.
Price Action: REPH shares are down 2% at $1.72 during the market session on the last check Wednesday.