Shares in Critical Therapeutics Inc. rose 23 percent in morning trading after it won regulatory approval for an asthma treatment.
The Lexington company, which seeks to develop products for respiratory and other diseases, said today that the Food and Drug Administration has approved its application for a drug called Zyflo CR.
The company said that the FDA approved its new drug application for twice-daily Zyflo CR extended release tablets.
In late morning trading on the Nasdaq Stock Market, company shares were up 61 cents to $3.27.
With its partner, Dey L.P., an affiliate of Germany-based Merck GKaA, the company said it expects to begin marketing Zyflo CR in the United States in the fall.
Zyflo, as opposed to Zyflo CR, has been approved to treat asthma in the United States since 1996; Critical Therapeutics acquired worldwide rights to Zyflo several years ago, according to the company's website.
The FDA approval of Zyflo CR "solidifies our position in the asthma market," company chief executive Frank Thomas said in a statement.
(By Chris Reidy, Globe staff)