Adamas Pharmaceuticals Inc (NASDAQ: ADMS) is having an overwhelmingly strong start to the trading session in the pre-market hours this morning and for good reason. The company announced that the FDA has approved a new drug the company has been working on. Of course, this led to excitement among investors who sent the stock toward the top. As is normally the case, our friends at Trade Ideas were the first to alert us to the gains. At the moment (9:10), ADMS is trading at $20.34 per share after a gain of $6.11 per share or 42.94% thus far today.
ADMS Gains On FDA Approval
As mentioned above, Adamas Pharmaceuticals is having an incredibly strong time in the pre-market this morning after the company announced that the United States Food and Drug Administration has approved its treatment. The treatment in question, GOCOVRI extended released capsules, have been approved for the treatment of dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. The treatment was previously granted orphan drug status by the FDA and is now the first and only approved medication for this indication. In a statement, Rajesh Pahwa, M.D., Laverne & Joyce Rider Professor of Neurology at the Kansas Medical Center and Director of the Parkinson’s Disease Center of Excellence at the University of Kansas Health System, had the following to offer about the ADMS treatment…
“GOCOVRI’s approval is an important advancement for the treatment of Parkinson’s disease, as it is the first FDA-approved medicine for the treatment of dyskinesia in Parkinson’s disease patients… Notably, GOCOVRI is the first Parkinson’s disease medicine proven in controlled trials to reduce both dyskinesia and OFF time in Parkinson’s disease patients receiving levodopa. Treatment of dyskinesia and OFF time continues to be an unmet need in the medical management of Parkinson’s disease and the approval of GOCOVRI is a major step in that direction.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ADMS. In particular, we’re interested in following the company’s commercialization plans after today’s approval. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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