Acusphere is a specialty pharmaceutical company, primarily focused on the development of Imagify™ (Perflubutane Polymer Microspheres) for Injectible Suspension, a cardiovascular drug for the detection of coronary artery disease (CAD). Acusphere has reached agreement with the Food and Drug Administration (FDA) under a Special Protocol Assessment (SPA) on the design of a placebo trial to demonstrate that stress ultrasound with Imagify has superior efficacy to stress ultrasound without Imagify. The Company has submitted the Marketing Authorisation Application (MAA) for its lead product candidate, Imagify™ (Perflubutane Polymer Microspheres) lyophilisate for dispersion for injection with the European Medicines Agency (EMA) to support the regulatory review of Imagify in the European Union (EU). The MAA was submitted via the centralized procedure that enables simultaneous approval in all EU countries. The validation process for the MAA has been successfully completed, and the substantive review process is now underway by the Committee for Medicinal Products for Human Use (CHMP). The CHMP opinion is expected in Q2 2014.