Cypress Shipping Fibromyalgia Drug
San Diego’s Cypress Bioscience (NASDAQ: CYPB) says in its Q1 financial results today that it began shipping its new drug milnacipran HCL (Savella) last month. The drug gained FDA approval earlier this year for treating fibromyalgia. Cypress says its first-quarter loss widened to $9.2 million from $2.9 million in the same quarter last year. The biotech has about $160.4 million in available cash.