Neurocrine Biosciences Rises as Drug Fights Movement Disorderby
Treatment met primary endpoint in late-stage clinical trial
Drugmaker says will apply for U.S. regulatory approval in 2016
Neurocrine Biosciences Inc. rose the most in nine months after its pill helped patients with a movement disorder in a late-stage trial.
The drugmaker climbed 12 percent to $43.47 at 9:37 a.m. in New York after earlier rising as much as 21 percent, the biggest intraday gain since Jan. 8. The shares had climbed 74 percent this year through Wednesday.
In a six-week study of 234 patients with tardive dyskinesia, a side effect of psychiatric drugs in which people move their faces without control, those on the Neurocrine’s NBI-98854 had a lower measure of involuntary facial movements than those on a placebo, the company said in a statement Thursday.
The company said the drug was well tolerated but didn’t disclose details on the frequency or severity of side effects. Neurocrine said it will seek U.S. regulatory approval for NBI-98854 next year and complete a study looking at the drug’s effect on Tourette syndrome this year.
There are no approved treatments for tardive dyskinesia, which affects fewer than 200,000 people a year in the U.S.