Aralez Pharmaceuticals Volatile Following FDA Approval Of Yosprala

Shares of Aralez Pharmaceuticals Inc (NASDAQ: ARLZ) were volatile on Monday after the company announced the U.S. Food and Drug Administration accepted the company's New Drug Application for its investigational candidate, YOSPRALA.

Shares of Aralez opened for trading at $3.73 and spiked to an intra-day high of $3.96. However, by mid-afternoon, the stock reversed course and was trading at $3.63, up just 1.4 percent on the day.

Yosprala is an investigational aspirin therapy and is intended to prevent cardiovascular disease in patients at risk for aspirin-indusced gastric ulcers.

"The acceptance of our NDA for YOSPRALA marks an important and exciting step toward approval of this product," said Adrian Adams, Chief Executive Officer of Aralez. "We look forward to working with the FDA during the review process in order to bring YOSPRALA to market as quickly as possible."