Turing Pharmaceuticals, which is the subject of several investigations into its pricing strategies, has said that it plans to begin a Phase 1 trial of its TUR-002 intranasal ketamine in the first quarter of 2016. The company said that is developing TUR-002 for both post-traumatic stress disorder (PTSD) and major depressive disorder.
Turing CEO Martin Shkreli said, “Our Research and Development organization, led by Dr. Eliseo Salinas, has surpassed my expectations in advancing TUR-004 for epileptic encephalopathies and TUR-002 for depression with the FDA.” According to the announcement, Turing spent $7 million in development costs for those two products in the 3rd quarter of 2015.
The company acquired intranasal ketamine and Syntocinon intranasal oxytocin from Retrophin Pharmaceuticals as part of a deal that included Shkreli’s resignation from Retrophin. Turing’s latest update does not mention Syntocinon, which according to the company’s website, is in development for lactation and for a “new indication.”
Read the Turing press release.
