BioDelivery Sciences (BDSI) announced that a late-stage trial of its new chronic pain drug showed positive results. The news sent BDSI stock soaring more than 44% in Friday morning trading.
BDSI stock was boosted by early results from testing of BEMA buprenorphine. Patients in the trial receiving the drug reported significantly more relief from chronic pain compared to those given a placebo. Results from a second round of late-stage testing will be disclosed later this year.
The testing also resulted in a $10 million milestone payment by Endo Health Solutions Inc. (ENDP). The two companies have a licensing over BEMA buprenorphine development.
BEMA buprenorphine is targeted at patients suffering from moderate-to-severe chronic pain who require constant opioid therapy.
BDSI stock closed at $6.25 on Thursday. BDSI stock has climbed more than 45% over the past year.