Acorda stock surges 9% after positive late-stage clinical trial results for Parkinson's drug
Acorda Therapeutics Inc. shares surged 9.0% in early morning trade after the company said its drug showed an improvement in motor function for patients with Parkinson's disease in a late-stage clinical trial. The drug, CVT-301 is inhalable and was tested during "off" periods, or when patients aren't responding as well to medication. The phase 3 trial enrolled 339 participants, with two dose levels of the drug and a placebo arm. The study had 11 serious adverse effects total, including three in the placebo arm of the trial, and one patient committed suicide, which was judged not to be related to the drug, the company said. Acorda shares have surged 11.3% over the last three months, compared with a 6.3% rise in the S&P 500 .
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