Adamas Pharma down 10% on Gocovri headwinds

|About: Adamas Pharmaceuticals... (ADMS)|By:, SA News Editor

Adamas Pharmaceuticals (ADMS -9.5%) slumps on modestly higher volume in early trade following a downgrade to Neutral at BofA/Merrill Lynch. Analyst Tazeen Ahmad says a survey of doctors showed a higher-than-expected dropout rate for Parkinson's med GOCOVRI (amantadine) due to the high cost and difficulty in securing prior authorizations from payers.

There is also looming competition from pending IPO Osmotica Pharmaceuticals (OSMT), which plans to launch an extended-release formulation of amantadine, branded as Osmolex ER, this quarter.

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