Neuroderm Ltd (NASDAQ: NDRM) won plaudits Wednesday from stockholders, on gathering momentum over the past few weeks with positive vibes, the latest of which was an upgrade by ratings agency Oppenheimer.
The venerable house raised the Israel-based NeuroDerm from market perform to outperform, after the clinical stage pharmaceutical company --developing drug-device combinations for central nervous system disorders, including Parkinson’s Disease -- garnered favourable reviews from presenting six posters related to its clinical pipeline during a conference last week in Vancouver.
Medical staff of Neuroderm presented demographic data from trial 006 --- an international open label, blinded rater, phase II study of ND0612H, NeuroDerm's high dose continuous, subcutaneously delivered levodopa/carbidopa (LD/CD) liquid formulation, in patients with advanced Parkinson's disease.
Last March, NeuroDerm announced that a preliminary analysis of trial 006 demonstrated that the trial successfully met its primary, key secondary and additional secondary endpoints, with many patients experiencing a complete reduction of OFF-time to zero. Final safety and efficacy results from this trial were presented in a late-breaking poster session as the conference wrapped up.
NDRM’s main focus is in Parkinson's disease, where it has three clinical stage product candidates in development which offer a solution for almost every Parkinson’s disease patient, from moderate to the very severe stage of the disease.
In addition, NeuroDerm is developing ND0701, a novel subcutaneously delivered apomorphine formulation for patients who suffer from moderate to severe Parkinson’s disease and who do not respond well to certain Parkinson’s-treating medications.
Its stock certainly raised eyebrows Wednesday, climbing $3.40, or 13.7%, to $28.30