11:46 AM EST - Transition Therapeutics Inc. : announced that its licensing partner, Elan Corporation, plc has commenced a Phase 2, placebo-controlled, safety and efficacy study of oral ELND005 as an adjunctive maintenance treatment in patients with Bipolar I Disorder (BPD 1) to delay the time to occurrence of mood episodes. As the first patient has been dosed in this study, Transition will receive a milestone payment of $11 million U.S. from Elan. Transition Therapeutics Inc.
shares T.TTH are trading down $0.06 at $2.48.
