By Michael Dabaie
PLx Pharma Inc. shares were up 30% to $16.10 in Tuesday afternoon trading after the specialty pharmaceutical company said its Vazalore is set to launch in Walmart stores in August.
PLx said three stock-keeping units of Vazalore U.S. Food and Drug Administration approved liquid-filled aspirin capsules will be available in more than 4,500 Walmart stores across the U.S. in mid-August.
Walmart has already inserted placeholders to reserve space on shelves and alert customers that Vazalore is coming soon, PLx said.
"The company has indicated it anticipates agreements with all the major U.S. drug store retailers ahead of launch in 3Q21 but obviously the Walmart agreement is significant in that is the first disclosed as well as representing first major external endorsement and thus validation of VAZALORE's commercial potential," Raymond James said in a note.
"Gearing up for the nationwide launch, Walmart is the first major retailer to dedicate shelf space to the newly FDA-approved product. The shelf placeholders not only reserve shelf space for VAZALORE, but also begin the process of alerting customers about the innovative aspirin product," Raymond James said.
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(END) Dow Jones Newswires