Shares of Acorda Therapeutics Inc, rocketed by more than 280% monday on positive findings from a phase III study of Fampridine-SR in multiple sclerosis.
The company's stock gained $6.28 to $8.50 because the drug enabled MS patients to walk with far less difficulty, a benefit that stands in contrast to current therapies, of which none are labeled for aiding in mobility.
The drug is expected to be used in a complementary role to existing MS drugs, with sales predicted to reach $300 million.
Fampridine SR is a sustained release oral drug that improves impulse conduction [electrical] in nerve fibers in which the insulating layer, called myelin, has been damaged. It is a potassium channel blocker [receptors in cells that regulate ion balance between in and out of cells] that helps nerve impulses conduct down axons.
Acorda NASDAQ:ACOR is up today as well 34% to $11.40 in very heavy trading.
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