- Avanir Pharmaceuticals (NASDAQ:AVNR) explodes 46% premarket on massive volume in response to its announcement of positive results from its Phase 2 trial evaluating AVP-923 for the treatment of agitation in patients with Alzheimer's disease. AVP-923 achieved the primary endpoint of a statistically significant reduction in agitation versus placebo (p=0.00008).
- There are no FDA-approved drugs for this indication.
- Avanir will present the study results at the American Neurological Association's Annual Meeting in Baltimore, MD, October 12-14, 2014.