Neurocrine Biosciences Inc said its movement disorder drug showed a reduction in symptoms compared to a placebo in a mid-stage study, sending its shares up 56 percent after the bell.
The trial tested the drug, NBI-98854, in 102 moderate to severe tardive dyskinesia patients over a six-week treatment period.
Tardive dyskinesia is a movement disorder that affects a person's ability to perform voluntary muscular movements. It is characterized by symptoms including lip smacking, facial movements or blinking, or involuntary movements of the limbs. There is currently no approved treatment for the disorder, the company said.
Neurocrine said NBI-98854 was generally safe and well tolerated in the study.
This data allows the company to submit an end of mid-stage meeting request as well as finalize the initial draft of an end-stage trial protocol, expected to be filed with U.S. health regulators in the first half of 2014, Chief Executive Kevin Gorman said.
The company's shares were up at $15.21 in extended trading after closing at $9.76 on the Nasdaq on Monday.
(Reporting by Natalie Grover in Bangalore; Editing by Maju Samuel)