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Analysis Of Adamas Pharmaceuticals' (ADMS) Q2 2017 Earning Call Transcript

|Includes: Adamas Pharmaceuticals, Inc. (ADMS)

Summary

ADMS has an August 24th PDUFA date for ADS-5102 for the treatment of Parkinson's LID.

Review of the clinical results from the management earning call transcript suggested that the drug will be approved.

Summary of the direct comparison data from the management showed that ADS-5102 has better efficacy than the amantadine immediate release.

Even though the management keep saying forward looking statement as in "if approved", the management had already invested large amount of capital into commercializing ADS-5102. From Alfred Merriweather explanation of the difference in general and administrative expenses for the recent quarter between $13.1 million and $8.1 million-"This increase reflects cost associated with building the administrative and commercial capabilities in preparation for commercialization."

From Rajiv Patni, "The efficacy measure used was the MDS-UPDRS Part IV score, which is a measure of dyskinesia and OFF time. The treatment benefit of ADS-5102 was rapid, substantial and durable out to 88 weeks. We also presented data from a group of patients who switched from amantadine immediate release to ADS-5102.These data showed that patients previously on amantadine immediate release experienced a 35% reduction in dyskinesia and OFF time when switched to ADS-5102. This treatment effect was comparable to that experienced by amantadine-naive patients switched from placebo to open-label ADS-5102." It suggested that direct comparison of the amantadine immediate release and ADS-5102 has been done internally by the management.

Disclosure: I am/we are long ADMS.

Additional disclosure: I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.