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Adamas Pharmaceuticals (Nasdaq: ADMS) announced FDA marketing authorization for GOCOVRI® (amantadine) extended release capsules, now approved for a second indication: as an adjunctive treatment for Parkinson's disease patients experiencing OFF episodes. This milestone enhances treatment options for over one million U.S. patients with Parkinson's, with GOCOVRI being the first drug approved for both OFF episodes and dyskinesia. The approval results from pivotal Phase 3 trials demonstrating significant efficacy in reducing both OFF time and dyskinesia.
Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) announced a settlement agreement with Zydus Worldwide DMCC regarding Zydus's ANDA for a generic version of GOCOVRI® (amantadine). This agreement allows Zydus to market a generic version starting March 4, 2030, unless sales drop below a specified threshold before 2025. The deal resolves all ongoing patent litigation against generic firms. CEO Neil F. McFarlane expressed confidence in Adamas's intellectual property strength and looks to build on a strong 2020 performance to boost GOCOVRI sales in 2021.
Adamas Pharmaceuticals (ADMS) reported preliminary unaudited revenues of $20.8 million for Q4 2020, up 27% from Q4 2019. Total revenues for 2020 are expected to be $74.2 million, reflecting a 36% increase from 2019. GOCOVRI product sales are projected at $71.2 million, a 30% rise year-over-year. The company aims to enhance GOCOVRI's market position and integrate OSMOLEX ER in 2021, among other strategic goals. Cash reserves stand at $83.4 million as of December 31, 2020.
Adamas Pharmaceuticals (Nasdaq: ADMS) announced that CEO Neil F. McFarlane will participate in a fireside chat during the ICR Conference 2021, scheduled for January 11-14, 2021. The chat will be broadcast live on January 14 at 11:30 a.m. Eastern Time via the company’s investor relations website. A replay will be accessible for 30 days post-event. Adamas is committed to developing innovative therapies that address neurological diseases, enhancing the quality of life for patients and caregivers.
Adamas Pharmaceuticals has successfully completed the acquisition of OSMOLEX ER, expanding its portfolio of neurological therapies, including GOCOVRI, which treats dyskinesia in Parkinson's patients. This acquisition followed the settlement of patent litigation with Osmotica Pharmaceutical and is supported by an amended Royalty-Backed Loan Agreement with HealthCare Royalty Partners. CEO Neil F. McFarlane highlighted the company's strategic focus on leveraging both therapies to enhance patient care and achieve financial accretion.
Adamas Pharmaceuticals will participate in a fireside chat at the H.C. Wainwright VIRTUAL BioConnect Conference from January 11 to 14, 2021. The session features CEO Neil F. McFarlane and will provide insights into the company’s mission to develop innovative therapies for neurological diseases. A replay of the chat will be accessible from January 11, 2021, through the investor relations section of their website, remaining available for 30 days.
Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) announced on December 11, 2020, that its compensation committee granted stock options and restricted stock units to two new employees. A total of 28,500 stock options were awarded, priced at $4.88 per share, alongside 14,250 restricted stock units. Both grants vest over four years and are issued under the 2016 Inducement Plan to attract new talent.
This initiative aims to enhance the company's ability to deliver innovative therapies for neurological diseases.
Adamas Pharmaceuticals (Nasdaq: ADMS) has amended its Royalty-Backed Loan agreement with HealthCare Royalty Partners. The changes include repayment based on royalties from OSMOLEX ER and GOCOVRI, eliminating a planned increase in royalty rates. The maturity date is now extended to March 31, 2027, with a required cash balance of $25 million. These amendments aim to enhance operational flexibility and support the growth strategy of the company, especially with the upcoming acquisition of OSMOLEX ER expected in early 2021.
Adamas Pharmaceuticals has announced an agreement to acquire global rights to OSMOLEX ER® from Osmotica Pharmaceuticals for $7.5 million. The acquisition is part of a settlement of ongoing patent litigation, allowing both companies to drop their claims. This is expected to close in early 2021. Adamas aims to enhance its neurology portfolio alongside its existing product, GOCOVRI®, which treats dyskinesia in Parkinson's patients. The agreement also includes a supply arrangement with Osmotica as the sole manufacturer.
Adamas Pharmaceuticals (Nasdaq: ADMS) has announced that CEO Neil F. McFarlane will present at the Evercore ISI 3rd Annual HealthCONx Conference on December 1, 2020, at 11:45 am ET. The presentation, aimed at discussing advancements in neurological disease treatments, will be webcast live from the investor relations section of the Adamas website. An archived version will be available for 30 days post-presentation. Adamas is focused on developing innovative medicines to alleviate the burden of neurological diseases.
