BioDelivery Sciences stock surges after positive drug trial results

Posted by David Bracken on January 24, 2014 

BioDelivery Sciences International stock jumped 51 percent Friday after the Raleigh company reported positive clinical trial results for its experimental treatment for chronic pain.

BioDelivery Sciences and Malvern, Penn.-bsed Endo Pharmaceuticals announced late Thursday that results from the first phase of a Phase 3 clinical trial of BEMA Buprenorphine improved chronic pain relief when compared to a placebo.

The results triggered a $10 million milestone payment from Endo to BioDelivery Sciences.

The second phase of the trial is ongoing, and results are expected to come later this year. Those would also trigger a similar milestone payment for BioDelivery Sciences and, if successful, could lead to a new drug application for BEMA by the end of this year.

BioDelivery Sciences also expects to begin Phase 3 clinical trials for its drug Clonidine, a gel to treat painful diabetic neuropathy, a condition that afflicts some people suffering from diabetes, by the first quarter of next year.

BioDelivery Sciences shares closed at $9.41, up $3.16. The stock is up 121 percent over the past year.

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