Rehovot-based Central Nervous Systems treatment drug developer NeuroDerm(Nasdaq:NDRM) has achieved positive results in a Phase IIa Pharmacokinetic Study of ND0612H and ND0612L for the treatment of Parkinson’s disease. These results suggest that the high dose version, ND0612H, intended for severe Parkinson’s disease patients, may provide an effective therapy alternative to current treatments requiring surgery.
Following publication of the results the company's share price rose 194% to $18.14, giving a market cap of $308 million, well above Neuroderm's share price of $10 at its IPO last month, when it raised $50 million.
NeuroDerm VP Clinical and Regulatory Affairs Dr. Sheila Oren said, “Maintaining consistent levodopa concentrations has been the most significant hurdle in Parkinson’s disease therapy. The results from this study demonstrate that ND0612H can reach high LD plasma levels that, to date, could only be reached and maintained by products that require surgical intervention. ND0612H is designed to be delivered continuously, thus we believe it should offer a simple and effective treatment option that will minimize the need for surgical intervention in advanced Parkinson’s patients.”
NeuroDerm CEO Dr. Oded Lieberman said, “These results add to the growing body of clinical data confirming our thesis that continuous, subcutaneous delivery of LD/CD leads to more consistent therapy, which we expect to have a dramatic effect on patient outcomes and quality of life, replacing in most cases the need for surgical intervention. Based on these positive PK results, we will proceed with the clinical development of ND0612H and ND0612L in the US and the EU in 2015.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2014
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