$50 Million

Adamas Pharmaceuticals

At-the-market Offering

Adamas Pharmaceuticals
Adamas is a specialty pharmaceutical company focusing on the development and commercialization of therapeutics targeting chronic disorders of the central nervous system. The Company achieves this by enhancing the pharmacokinetic profiles of approved drugs to create novel therapeutics for use alone and in fixed-dose combination products. The Company’s business strategy is twofold: 1) develop and commercialize its wholly- owned products directly and 2) form partnerships with companies that have an already established CNS market presence. The Company is developing its lead wholly- owned product candidate, ADS-5102 (amantadine hydrochloride), for a complication associated with the treatment of Parkinson’s disease known as levodopa- induced dyskinesia (LID) associated with Parkinson’s disease and potentially as a treatment for one or more additional CNS indications. LID is a movement disorder that frequently occurs in patients with Parkinson's disease after long-term treatment with levodopa, the most widely-used drug for Parkinson's disease. There are no FDA or EMA approved drugs for the treatment of LID. The EASE LID study showed a 23% reduction (p = 0.0009) in LID at 12 weeks for patients who received ADS-5102 versus placebo, which was maintained at 24 weeks (p = 0.0008), a key secondary analysis. There were four additional key secondary analyses based on patient diary data, and all achieved statistical significance. Notably, at week 12, ADS-5102 significantly increased ON time without troublesome dyskinesia by 2.7 hours versus placebo and reduced OFF time by 0.9 hours. These effects were maintained at week 24. The reported adverse events associated with ADS-5102 were consistent with the known safety profile of amantadine as well as the safety results from the Company’s earlier placebo-controlled trial.