Titan Pharmaceutical, a company that sells the drug and its derivatives for treating chronic pain, said Tuesday it has filed a registration statement with the Securities and Exchange Commission.
Titan has received approval to market the drug in the United States, Europe and Canada, it said in a statement.
Titans sales are up 28 percent in the first nine months of the year compared with the same period last year, the company said.
Tylenol sales increased by 40 percent, its largest increase in six years.
Tylenols have been used in treating acute pain for decades and the company was among the first to develop an injectable version.
Tolueneserin, a new painkiller approved in 2014, is available for prescription in Canada, but Tylenserin is not approved for use in the U.S.
The drug’s approval was a boon to a company seeking to get its first U.K. patent granted in 2017.
Toxi, which made the drug, had been seeking approval in the country since 2010, and its application for an U.B.C. patent had been approved in October 2016.
Toxi was approved last year in the British Columbia province of British Columbia.
Toxicology, an industry trade group, said the drug was the first approved drug in Canada and that its approval was based on Toxio’s ability to treat chronic pain.
“The new drug, in combination with a well-known, well-studied and proven therapeutic agent, Tyleneserins other potential therapeutic value, will enable Tylene Corporation to enter a significant market opportunity,” said the group in a press release.
Tylanne, which is based in Toronto, said in its press release that its shares are up more than 15 percent in 2017 as investors continue to view the company’s future prospects.