Adamas Pharmaceuticals (Nasdaq: ADMS) will announce its 2020 Q2 financial results on August 6, 2020, after market close. Following this, management will host a conference call and webcast at 4:30 PM ET to review the results and provide updates on corporate activities. The conference call can be accessed by dialing specific numbers for U.S. and international participants, using Conference ID: 4795503. The webcast will be accessible via Adamas' investor website and remain available for replay until November 5, 2020.
Adamas Pharmaceuticals (Nasdaq: ADMS) has granted stock options to three new employees, totaling 62,500 shares at an exercise price of $2.57, reflecting the closing price on July 8. Additionally, 31,250 shares in restricted stock units were also granted. These options and units will vest over a four-year period and were issued under the company's 2016 Inducement Plan, approved by the board of directors. This initiative aims to attract talent to support Adamas's mission of developing innovative medicines for neurological diseases.
Adamas Pharmaceuticals (Nasdaq: ADMS) has completed its evaluation of ADS-5102 for multiple sclerosis patients with walking impairment. The study results confirmed previous findings but indicated a limited commercial opportunity, prompting the company to halt further Phase 3 development. They will, however, continue an open-label study. The focus remains on GOCOVRI, their FDA-approved drug for Parkinson’s disease. Adamas is confident in their capital position to support ongoing strategies, including a recently filed sNDA for label revision of GOCOVRI.
Adamas Pharmaceuticals (Nasdaq: ADMS) announced the FDA's acceptance of its supplemental New Drug Application (sNDA) for GOCOVRI. This application seeks to expand GOCOVRI's indication to treat OFF episodes in Parkinson's disease patients on levodopa therapy. The PDUFA action date is set for February 1, 2021. GOCOVRI, currently approved for dyskinesia in PD patients, is the first medication shown to reduce both dyskinesia and OFF time. CEO Neil F. McFarlane expressed optimism about this review, noting GOCOVRI's comprehensive therapeutic benefits for PD motor complications.
Adamas Pharmaceuticals (Nasdaq: ADMS) announced that CEO Neil F. McFarlane will present at the William Blair Growth Stock Conference on June 10, 2020, at 9:20 a.m. Central Time. The presentation will be available live on the company's investor relations website, with a replay accessible for 30 days post-event. Adamas focuses on innovative therapies for neurological diseases, highlighted by the FDA-approved GOCOVRI® (amantadine), the first treatment for dyskinesia in Parkinson's patients on levodopa therapy. For more details, visit www.adamaspharma.com.
Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) announced the issuance of a new patent (no. 10,646,456) for its product GOCOVRI®, which targets 'OFF' time reduction and 'good ON' time increase in Parkinson's disease patients on levodopa therapy. This second patent will expire in 2034 and complements a portfolio of 15 U.S. patents for GOCOVRI. The medication is the first FDA-approved treatment for dyskinesia associated with levodopa and has shown efficacy in pivotal clinical studies.
Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) announced the grant of stock options and restricted stock units to five new employees. A total of 66,000 options were granted at an exercise price of $3.46 per share, reflecting the closing price on May 7, 2020. Additionally, 33,000 restricted stock units were given, all vesting over four years. This grant is part of the Adamas Pharmaceuticals 2016 Inducement Plan, approved in March 2016, aimed at attracting new talent to the company. The company focuses on innovative therapies for neurological diseases, highlighted by their FDA-approved treatment for dyskinesia in Parkinson’s patients.
Adamas Pharmaceuticals (Nasdaq: ADMS) reported Q1 2020 GOCOVRI product sales of $14.5 million, up 24% from $11.7 million in Q1 2019, with total prescriptions increasing to 7,210. R&D expenses decreased to $2.5 million as phase trials were completed, while SG&A expenses fell to $24.6 million. Despite a net loss of $16.6 million ($0.59 per share), the company maintains sufficient inventory of GOCOVRI. 2020 expense guidance was adjusted, lowering SG&A expectations.
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