Somaxon at outperform by RBC

RBC Capital Markets analyst Ken Trbovich rated Somaxon Pharmaceuticals at outperform, speculative risk. The company completed its phase 3 trials resulting in "dramatically lower" research and development, losses and cash burn, according to the analyst. Research and development expenses were $7.9 million for the third-quarter 2006, from $12.3 million in each of the past two quarters. Results of two remaining phase 3 trials are expected in November and December of this year. Shares of the San Diego-based specialty pharmaceutical company were up 5 cents, or 0.35%, at $14.50. (Nasdaq: SOMX)

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