Rochester, NY 8/12/2009 12:28:08 AM
Avanir Pharmaceuticals, Inc AVNR, Drug Study Pushes Avanir To 80% Spike
Avanir Pharmaceuticals, Inc
Avanir Pharmaceuticals has seen positive results in their drug study that concerns a neurological disorder. The study shows that this disorder can (in some cases) be reduced by 50 percent.
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This news caused the shares to soar close to 80% higher Tuesday AM. There was an early morning frenzy of trading with a volume reaching 3 million. The stock was trading at $3.86, up 77%.
This breakthrough drug is called Zenvia and has led to a 47.2% decrease in this disorder when compared to those who had taken the placebo. This allowed Avanir to reach its goals for the phase-three trial.
There are an estimated 2 million Americans who suffer from this disorder (called pseudobulbar affect) known as "emotional liability". This disorder can accompany brain injuries or diseases such as MS (multiple sclerosis), Lou Gehrig's disease, (Parkinson's) and is causes the person to experience (and display) episodes of crying, laughing and certain other emotional outbursts.
The drug is also being developed to treat the paid (neuropathic) that is sometimes associated with diabetes.
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