On a day when the DJIA was up over 1% respectively, Adamas Pharmaceuticals, Inc. (ADMS), a specialty pharmaceutical company, focuses on the development and commercialization of therapeutics targeting chronic disorders of the central nervous systems, stole the show with an announcement that prompted an incredibly impressive 82.98% gain in just one day.
Adamas Announces Positive Top-Line Phase 3 Results of ADS-5102 for the Treatment of Levodopa-induced Dyskinesia in Patients With Parkinson’s Disease
EMERYVILLE, Calif., Dec. 23, 2015 (GLOBE NEWSWIRE) — Adamas Pharmaceuticals, Inc. (ADMS) today announced that its Phase 3 EASE LID clinical trial evaluating the company’s investigational compound ADS-5102 (amantadine HCl) extended-release capsules for the treatment of levodopa-induced dyskinesia (LID) associated with Parkinson’s disease met its primary endpoint. Results from this randomized, placebo-controlled study showed a statistically significant reduction (p = 0.0009) in LID at 12 weeks for patients who received ADS-5102 versus placebo as assessed by the Unified Dyskinesia Rating Scale (UDysRS). This represents a 23 percent reduction in LID for ADS-5102-treated patients compared to placebo. The reduction in LID was maintained at 24 weeks (p = 0.0008), a key secondary analysis. The company plans to present comprehensive data at an upcoming scientific conference.
Get the full report here: http://finance.yahoo.com/news/adamas-announces-positive-top-line-110000990.html
Gains were held through out the day and finished in a flurry. Chalk the Company’s ADS-5102 drug up to the success board. ADMS still has long road to travel as ADS-5102 is still up for FDA submission.
Gregory T. Went, Ph.D., Chairman and Chief Executive Officer of Adamas Pharmaceuticals:
“We are very pleased with these top-line results that confirm and extend the positive findings from our earlier randomized, placebo-controlled study,” “Parkinson’s disease patients have no approved medicine for this potentially serious complication of levodopa therapy. With these data in hand, we look forward to talking with the FDA about our planned NDA submission for ADS-5102.”