$heff's $tation of $tocks & $olid DD

[$$$eeker]

Edited. APRI-Apricus Biosciences, Inc. Very nice chart. Apricus Bioscience Inc
APRI.O
$3.84
+0.41+11.95%12:00am EST
Wed Dec 22, 2010 3:02pm EST

* Licenses Italian rights of Vitaros to Bracco SpA

* To get 5.5 million euros as upfront payment

* Apricus shares up 8 pct

Dec 22 (Reuters) - Apricus Biosciences Inc (APRI.O) said it licensed the Italian marketing rights of its experimental erectile dysfunction drug to Bracco SpA for an upfront payment of 5.5 million euro ($7.20 million).

Under the deal, Bracco gets the rights to commercialize and market the drug Vitaros under the Bracco trademark in Italy.

Apricus, which uses its drug delivery technology to administer drugs through the skin, will also be eligible to get double-digit royalties based on sales of the product.

The application for approval to market Vitaros in Europe is scheduled to be filed in April 2011, Apricus said.

The San Diego, California-based company's shares, which have gained 27 percent in the last one month, were up 8 percent at $3.71 on Wednesday afternoon on Nasdaq in heavy trading. ($1=.7634 Euro) (Reporting by Anand Basu in Bangalore; Editing by Unnikrishnan Nair)