Adamas rockets on positive Parkinson's drug Phase III results
Shares of US CNS disorders specialist Adamas Pharmaceuticals (Nasdaq: ADMS) leapt by more than 52% to $25.73 today (December 23) after the company released positive top-line Phase III results of ADS-5102 for patients with Parkinson's disease.
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% 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. ADS-5102 was granted Orphan designation by the US Food and Drug Administration in the spring of this year (The Pharma Letter April 10).
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