Adamas Pharmaceuticals, Inc. (NASDAQ: ADMS)
Adamas Pharmaceuticals, Inc. (ADMS), a pharmaceutical company yesterday announced positive results from its second phase 3 trial of ADS-5102. Ads 5102 is used for the treatment of Levodopa induced Dyskinesia (LID) in Parkinson’s disease patients. The study met all its primary endpoints and showed a decrease in the duration, intensity and disability associated with LID.
Adamas Pharmaceuticals, Inc. CMO and Expert Comments
“Data from the EASE LID 3 trial of ADS-5102 further illustrates the potential for ADS-5102 to reduce the unwanted involuntary movements called dyskinesia, as well as OFF time, so patients can be more independent in their daily activities,” stated Rajesh Pahwa, M.D., Laverne & Joyce Rider Professor of Neurology and Director of the Parkinson’s Disease and Movement Disorder Center at the University of Kansas Medical Center.
“We look forward to submitting a new drug application for ADS-5102 to the FDA later this year and the potential of bringing the first FDA-approved medicine for the treatment of LID to Parkinson’s patients in the coming year,” said Rajiv Patni, M.D., Adamas’ Chief Medical Officer. Globe Newswire
ADMS Technical Analysis
ADMS opened trading yesterday at $17.71 which was up from the previous days trading of $17.68. ADMS closed trading yesterday at $18.09 and spiked up after market to $19.49, equivalent to a 8% increase from the closing price. Taking a look at the daily chart we can see the last time ADMS traded above these levels we have to go back to January 26th when it traded at $20.64. Taking a closer look at the daily chart we can see that ADMS has been in an overall upward trend dating back to August 30th when it traded at $12.99. ADMS has a float of 14.55 million shares and traded at the normal daily trading volume on Tuesday. For trading purposes, I would like to see ADMS open trading on Wednesday above $19.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.25 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Adamas Pharmaceuticals, Inc., a pharmaceutical company, focuses on the development and commercialization of therapeutics targeting chronic disorders of the central nervous systems. The companys lead product candidate is the ADS-5102 that is in Phase 3 clinical development for the treatment of levodopa-induced dyskinesia, a movement disorder associated with Parkinsons disease; and in a Phase 2 clinical study for the treatment of symptoms associated with various sclerosis, including walking impairment. The companys portfolio also comprises of Namzaric (memantine hydrochloride extended-release and donepezil hydrochloride) capsules; and Namenda XR (memantine hydrochloride) extended release capsules. It has a licensing agreement with Forest Laboratories Holdings Limited for marketing Namzaric and Namenda XR. Adamas Pharmaceuticals, Inc. also engages in evaluating ADS-4101, an extended-release version of a single-agent compound for the treatment of epilepsy. The company was formerly known as NeuroMolecular Pharmaceuticals, Inc. and changed its name to Adamas Pharmaceuticals, Inc. in July 2007. Adamas Pharmaceuticals, Inc. was founded in 2000 and is headquartered in Emeryville, California. Yahoo Finance
