Novadel Shares Up on Sublicense Agreement
Shares of Novadel Pharma Inc. (AMEX: NVD) steadily rose throughout the day, climbing 5 cents, nearly 8 percent, to 68 cents by the market's close. The activity reflects of the pharmaceutical company's announcement that Par Pharmaceuticals has been granted a sublicense agreement for the commercialization of Zensana. The company said it expects Zensana, to be one of the first in its class to prevent nausea and vomiting related to chemotherapy, radiation and surgery, available in an oral spray. In the announcement, the company said it will work with Par to further develop Zesana and push to commercialize the product throughout…