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Why PLx Pharma Blasted Nearly 20% Higher Today

What happened

PLx Pharma (NASDAQ: PLXP) was a monster outperformer on Tuesday; its shares were up by almost 20% in late afternoon trading. That was hardly surprising, given the company's excellent news released after market close the previous day.

So what

Monday night, PLx Pharma announced that its leading product, Vazalore, will be offered in more than 8,000 Walgreens Boots Alliance (NASDAQ: WBA) stores, beginning next month.

Adult and child looking at the shelves of a pharmacy.

Image source: Getty Images.

The big pharmacy chain will offer all three stock keeping units (SKUs) of Vazalore. The over-the-counter drug comes in 81-milligram capsules in 12- and 30-count containers, and a 325-milligram version is available in a 30-count package.

Approved by the Food and Drug Administration (FDA), Vazalore safely delivers liquid aspirin through the stomach to treat pain in the gastrointestinal system. PLx Pharma is not shy to point out that it is the first and (so far) only liquid aspirin capsule to have received the nod from the regulator.

This is the second high-profile Vazalore retail arrangement PLx Pharma has announced in as many weeks. Earlier in the month, it signed a deal with Walmart for all three SKUs to be stocked at over 4,500 of that company's outlets.

Now what

With these two arrangements, it's clear that PLx Pharma has a winning product that has top chain store operators seeing dollar signs. While Walmart- and Walgreens-sized deals are few and far between, we can nevertheless expect to soon see Vazalore on the shelves of more pharmacies, and perhaps even other types of retailers.

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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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