Rehovot-based NeuroDerm Ltd. (NASDAQ: NDRM) ended 2014 on a high note as it saw its share price more than double following announcement of positive results in a Phase IIa Parkinson’s drug trial. According to the company, administration of a continuous subcutaneous high-level dose of carbidopa/levidopa (CD/LD) could provide an alternative to treatments that require surgery. The medication is delivered through a waist-worn pump that provides a continuous stream of the medication, significantly reducing fluctuations in plasma levodopa levels.
The higher dose candidate, known as 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,” Sheila Oren, Vice President of Clinical and Regulatory Affairs at the company, said in a statement.
Parkinson’s disease is a progressive neurodegenerative illness characterized by reduced dopamine in the brain, resulting in a decrease in the patient’s motor and non-motor functions. Nearly all patients with the disease are treated with levodopa, a precursor to dopamine.
Current methods of treatment are administered orally and have a half-life of only four hours, requiring patients to take multiple doses daily. Excessive or intermittent oral doses of levodopa can often lead to involuntary movements, or dyskinesia, in some patients. Steady levodopa administration can currently only be achieved through permanent implantation of a tube in the small intestine.
After announcing the positive results, NeuroDerm’s share price subsequently reached a record high of $18.18, crossing their IPO price of $10 for the first time and giving a market cap of $308 million. It has since fell by approximately 33% to around $12 and has a Zacks Analyst Rank of ‘Hold’. The company announced its IPO last November.