More often times than not, when a pharmaceutical company such as Adamas Pharmaceuticals Inc (NASDAQ:ADMS) reports successful Phase 3 clinical trial results, their stock responds by skyrocketing. This is exactly what has happened this morning in pre-market trading, after the company announced that their investigational compound, ADS-5102 was successful in treating levodopa-induced dyskinesia (LID). In response to this news, the stock has climped over 34% in pre-market trading leading up to the last full trading day before Christmas.
“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),” Adamas Pharmaceuticals Inc (NASDAQ:ADMS) explained in their release. “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. “
It should be interesting to follow this stock today as trading begins. The stock closed at $16.86 during the last trading session. It is down 4.42% since May 20, 2015 and is downtrending. It has underperformed the S&P500 by 2.16%.
From a total of 2 analysts covering Adamas Pharmaceuticals (NASDAQ:ADMS) stock, 1 rate it a “Buy”, 1 a “Sell”, and 0 a “Hold”. This means that 50% of the ratings are positive. Adamas Pharmaceuticals was the topic of 3 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. TheStreet downgraded shares on October 16 to a “Sell” rating. Zacks downgraded ADMS stock in a recent report from August 7 to a “Buy” rating.
Adamas Pharmaceuticals, Inc. is a specialty pharmaceutical firm focused on development and commercialization of therapeutics targeting chronic disorders of central nervous systems . The company has a market cap of $310.60 million. It is engaged in modifying pharmacokinetic (PK) profiles of approved drugs to create therapeutics for use alone and in fixed-dose combination products. It currently has negative earnings. It develops its lead product, ADS-5102 (amantadine hydrochloride), for a complication associated with treatment of Parkinson’s disease known as levodopa induced dyskinesia, and as a treatment for one or more additional CNS indications.