NEW YORK (TheStreet) -- Shares of NeuroDerm (NDRM) skyrocketed more than 65% to a 52-week high of $10.31 in morning trading Tuesday after the Israeli company announced encouraging results from a trial for a treatment of Parkinson's disease.
NeuroDerm announced continuous, subcutaneous dosage of two of its proprietary liquid levodopa/carbidopa (LD/CD) product candidates, ND0612H and ND0612L, resulted in clinically significant plasma levadopa levels. The data indicates that the high dose version, ND0612H, meant for patients with severe Parkinson's disease, could be an effective therapy alternative to current treatments that require surgery.
"Maintaining consistent levodopa concentrations has been the most significant hurdle in Parkinson's disease therapy," said Sheila Oren, MD, NeuroDerm's Vice President of Clinical and Regulatory Affairs.
Exclusive Report:Jim Cramer’s Best Stocks for 2015
"The results from this study demonstrate that ND0612H can reach high LD plasma levels that, to date, could only be reached and maintained by products that require surgical intervention," Oren continued. "ND0612H is designed to be delivered continuously, thus we believe it should offer a simple and effective treatment option that will minimize the need for surgical intervention in advanced Parkinson's patients."
Oral levodopa has a short half-life, which requires patients to take multiple LD/CD doses each day. This leads to significant fluctuations in levadopa levels in patients. Continuous LD delivery can resolve this, but such administration can currently only occur after a patient undergoes an invasive surgical procedure in which a tube is permanently installed into the duodenum, the upper part of the small intestine.
More than 3.7 million shares had changed hands as of 10:04 a.m., compared to the daily average volume of 134,407.