Pernix Sleep Inc, formerly Somaxon Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the in-licensing, development and commercialization of branded products and late-stage product candidates. The Company operates in one segment, which is the development and commercialization of pharmaceutical products. The Company’s focus is on commercial activities relating to Silenor. As of December 31, 2011, the clinical development program for Silenor included four Phase III clinical trials. In June 2011, it entered into agreements with Paladin Labs Inc. (Paladin), under which Paladin had the right to commercialize Silenor in Canada, South America, the Caribbean and Africa, subject to the receipt of marketing approval in each such territory. In March 2013, Pernix Therapeutics Holdings Inc acquired the Company.