Shares of Adamas Pharmaceuticals Inc. (ADMS) - Get Report soared 48.3% to $21.10 in premarket trading on Friday, Aug. 25, after the Emeryville, Calif.-based firm clinched the U.S. Food and Drug Administration's approval for Gocovri as a treatment for dyskinesia in Parkinson's disease patients receiving levodopa-based therapy, with or without concomitant dopaminergic medications.
In a news release after the market close on Thursday, Adamas said it expects that Gocovri will be available in the fourth quarter and formally launched with the full deployment of the company's sales force in January 2018.
Shares of Minerva Neurosciences Inc. (NERV) - Get Report were up 12.1% to $6.50 after the European Commission approved an amendment to the Waltham, Mass.-based firm's co-development and license pact with Johnson & Johnson's (JNJ) - Get Report Janssen Pharmaceutica NV regarding insomnia drug and depression treatment candidate MIN-202 (JNJ 42827922).
Minerva in May announced it has entered into an amended agreement with Janssen, contingent upon approval by the European Commission and the close of the acquisition of Johnson & Johnson's purchase of Swiss biotech Actelion. The Actelion transaction was completed in June.
The amendment is expected to take effect Aug. 29. As part of the amended agreement, Minerva will have global strategic control of the development of MIN-202 to treat insomnia, and Janssen will forego its right to royalties on MIN-202 insomnia sales in Minerva territories.
Minerva will reacquire its shares owned by Johnson & Johnson's venture capital arm.
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