NeuroDerm (NDRM) Takes Off on Promising Drug Trials

Shares of Rehovot, Israel, based NeuroDerm Ltd. (NDRM) rocketed on Tuesday, against the backdrop of a generally lower day in stocks overall. NeuroDerm's stock was up by a market-leading 193.53%, rising $11.96 per share, to close at $18.14, on volume of 41,008,653 shares. The company reported positive mid-stage trial results for its Parkinson's disease candidate.

Founded on March 18, 2013, NeuroDerm Ltd. is a clinical-stage pharmaceutical company, which develops next-generation treatments for central nervous system disorders.
NeuroDerm develops a pipeline of products that address deficiencies in current treatments for the growing population of moderate to severe Parkinson's disease patients. Being a clinical stage pharmaceutical company, NeuroDerm had no sales for 2013, with a net loss of $86.89 million in the same year. The stock trades on the NASDAQ.

NeuroDerm reported on Tuesday that continuous, subcutaneous delivery of the company's proprietary liquid levodopa/carbidopa (LD/CD) product candidates, ND0612H and ND0612L, led to clinically-significant plasma levodopa levels. 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.

ND0612H delivered through a belt-worn pump is showing significantly increased plasma levodopa levels in patients. The company believes that this points toward a reliable alternative to the oral forms of levodopa, which tend to produce boom-and-bust cycles of levodopa in the blood and variations in symptoms along with them, requiring surgical treatment.

"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," said Oded S. Lieberman, PhD, CEO of NeuroDerm. "Based on these positive PK results, we will proceed with the clinical development of ND0612H and ND0612L in the United States and the European Union in 2015."

Parkinson's disease is a progressive neurodegenerative illness characterized by reduced dopamine in the brain, resulting in a debilitating decrease in the patient's motor and non-motor functions. Its symptoms, such as trembling in the extremities and face, slowness of movement and impaired balance and coordination, worsen over time and gravely impact the patient's quality of life. As the disease progresses, these symptoms become more severe, resulting in debilitating periods of decreased motor and non-motor functions, also referred to as "off" time.

In addition, mainly as a result of excessive/intermittent oral doses of levodopa aimed at treating the "off" time, some patients experience involuntary movements, or dyskinesia. The "off" time and dyskinesia affect the majority of Parkinson's disease patients and interfere with day-to-day functions, causing patients to become severely disabled. Continuous administration of levodopa has been shown to effectively treat motor fluctuations in Parkinson's disease patients, although workable method of continuous administration has not been introduced to date.

NeuroDerm's November 14 IPO was a flop, with the price well below it's expected range ($14.50) at $10. Prior to Tuesday's announcement, the stock had been trading below $6 per share.

Other News About NeuroDerm
IPO Preview: NeuroDerm
NeuroDerm's $65 million IPO at a price range midpoint of $14.50.
NeuroDerm Announces Third Quarter 2014 Financial Results and Provides a Corporate Update
NeuroDerm announced financial results for the third quarter.

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Published on Dec 31, 2014
By Kevin Mercadante

Copyrighted 2020. Content published with author's permission.

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