Neuroderm Shares Triple On Promising Parkinsons Drug Study

Neuroderm Ltd NDRM gained more than 150 percent after the company said a Phase IIa study of its drug candidates for Parkinsons disease showed potentially superior results to surgical alternatives.

Chief Executive Oded S. Lieberman said that based on recent results, the company will proceed with the clinical development of the two drugs in the U.S. and European Union in 2015.

Neuroderm, a development-stage company which last month went public at $10 a share, traded recently amid heavy volume at $15.77, up 155 percent.

Roth's Scott Henry, who maintains a Buy rating on Neuroderm, said the results confirm earlier data and show the drugs' potential for treating Parkinson's disease.

Roth said the Food and Drug Administration may remove its clinical hold on the drugs during the first half of 2015, clearing the way for U.S. trial in the second half of the year.

In the trial, Neuroderm delivered the drugs beneath the skin of 16 patients through a small pump versus the currently standard method which requires surgical implantation of a tube in the small intestine.

The trial delivered continuous doses of Neorderm's levodopa/carbidopa drug candidates, ND0612H and ND0612L.