NEW YORK (TheStreet) -- Shares of Alder Biopharmaceuticals (ALDR) were higher by 2.96% to $47.25 in early market trading Friday, after company CEO Dr. Randall Schatzman appeared on Jim Cramer's Mad Money show on CNBC.
Cramer said Alder may be one of the hottest stocks in the market right now, noting that shares of the small cap clinical-stage biopharmaceutical has doubled since late April.
Alder is working on two antibody therapies for chronic migraines and rheumatoid arthritis.
Schatzman said the company's goal is to prevent chronic migraines, targeting the primary initiating event before patients start seeing symptoms.
He added that Alder saw positive responses in Phase II trials, and found that one dose of the drug lasts six months in patients.
A third of the patients that had 10 to 15 migraines per month, have zero migraines after the drug, according to Schatzman.
Cramer called Alder's drugs for rheumatoid arthritis and migraines "gigantic unmet needs."
In addition, Schatzman talked about Alder's rheumatoid arthritis drug that acts "very rapidly."
"We've done a head to head trial with the best selling drug that's out there now, it's called HUMIRA. The Alder drug delivered more patients to remission than did HUMIRA," Schatzman told Cramer.
Cramer then noted that HUMIRA was the greatest selling drug of all time.
Bothell, Wash.-based Alder Biopharmaceuticals is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize therapeutic antibodies with the potential to meaningfully transform current treatment paradigms.