Why Supernus Pharmaceuticals Stock Is Soaring Today
On Friday afternoon, Supernus Pharmaceuticals (NASDAQ: SUPN) announced that the U.S. Food and Drug Administration (FDA) had approved Qelbree for the treatment of attention-deficit hyperactivity disorder (ADHD) in pediatric patients between the ages of 6 to 17. As a result of this regulatory update, shares of the biopharmaceutical company are rising sharply on Monday and were up by 10.2% as of 1:49 p.m. EDT after jumping by as much as 11.4% earlier in the day.
It hasn't been an easy road for Supernus Pharmaceuticals' attempt to earn approval for Qelbree: The company conducted four phase 3 clinical trials with over 1,000 ADHD patients to demonstrate the safety and efficacy of this medicine. Supernus Pharmaceuticals' hopes for this product were also dealt a severe blow in November 2020 when the FDA rejected an initial application for Qelbree. Thankfully, the healthcare company resubmitted its New Drug Application (NDA) for Qelbree in February, and these efforts have now borne fruit with the medicine finally earning regulatory approval.
Image source: Getty Images.
Source Fool.com
