Why BioDelivery Sciences (BDSI) Stock Hit a One-Year High Today

NEW YORK (TheStreet) -- BioDelivery Sciences  (BDSI) surged Monday to a 52-week high of $14.38 after the company announced in conjunction with Endo that their experimental painkiller BEMA buprenorphine was effective in a second late-stage trial.

The trial tested the drug against a placebo in 511 patients on regular opioid therapy. Data from the first late-stage trial in January revealed the drug significantly reduced chronic pain in patients who do not regularly take opioids.

BioDelivery and Endo signed an agreement in Jan. 2012 to develop the drug for chronic pain treatment. Endo will make a milestone payment of $10 million to BioDelivery as part of the deal.

Must Read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

BioDelivery was up 10.4% to $13.24 at 12:14 p.m. More than 5.2 million shares had changed hands, compared to the average volume of 761,227.

BDSI Chart

BDSI data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists