MAP shares surge 192% as migraine drug Levadex meets late-stage study endpoints
MAP Pharmaceuticals' orally-inhaled migraine drug Levadex (dihydroergotamine) met all four primary endpoints in a Phase III study. Shares in the US drugmaker surged 192% to $9.20 in midday trading on May 26, when the results were announced.
The agent is a novel formulation of dihydroergotamine, a drug with a proven record of safety and efficacy that has been used as an intravenous migraine treatment for years.
Patients taking Levadex had statistically-significant improvement at two hours for pain relief: 58.7% versus 34.5% for placebo (p<0.0001). Meanwhile, 52.9% were free of sensitivity to sound vs 33.8% (p<0.0001). Light sensitivity was relieved for 46.6% of patients on MAP's drug vs 27.2% for those on placebo (p<0.0001), while nausea was alleviated for 67.1% vs 58.7%.
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