Shares of Avanir (AVNR) jumped almost 10 percent on the news that its low-dose version of Zenvia demonstrated a significant reduction in the number and severity of uncontrolled emotional outbursts among patients with multiple sclerosis and ALS over a treatment period of six months.
The company's CMO, Randall Kaye, says that this is the first time that researchers tracked responses past 12 weeks, highlighting the drug's long-term safety and tolerability. The drug targets the pseudobulbar effect, a condition seen in patients with diseases ranging from Lou Gehrig's disease to MS. The FDA sent Avanir back to the drawing board on the drug three years ago, looking for additional safety data before it could be approved. The company reported last month that the drug met its primary endpoint in a new Phase III trial.
- here's Avanir's release
- read the Dow Jones report