Supernus shares jump on epilepsy drug approval
Supernus shares jump after epilepsy treatment Trokendi receives government approval
NEW YORK (AP) -- Shares of Supernus Pharmaceuticals Inc. jumped Monday after the company said that its epilepsy treatment was approved by government regulators.
THE SPARK: The Rockville, Md.-based company said that it received a final approval letter from the Food and Drug Administration for Trokendi XR, an extended-release treatment for epilepsy that is taken once daily.
THE BACKGROUND: Supernus expects to launch Trokendi XR in the next few weeks. This will be the company's second epilepsy drug to hit the market this year. Its other epilepsy drug, Oxtellar XR, was approved late last year and went on sale in February.
When Supernus became a public company in May 2012, it had no products on the market.
SHARE ACTION: Shares rose 62 cents, or 9.3 percent, to $7.26 Monday afternoon. Through Friday, the share had gained 49 percent from a 52-week low of $4.45 in April.
