Egalet Corp EGLT 4.06% shares are up another 2 percent in early Monday trading following a big 12.5 percent jump on Friday after the company released a new round of trial data for a key drug candidate.

According to JMP Securities, the Egalet rally is far from over.

Egalet announced positive top-line results from its abuse-deterrent, extended release oxycodone product candidate Egalet-002. The drug is being tested for treatment of around-the clock pain severe enough to require opioid treatment.

“The trial achieved its primary comparison, demonstrating a statistically significant lower level of maximum drug liking (Emax) with Egalet-002 compared to immediate-release oxycodone,” JMP analyst Jason Butler explains.

According to Butler, JMP is now shifting…

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