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What: Shares of drug developer Neurocrine Biosciences
So what: The preliminary results are in from Neurocrine's Phase IIa study on its treatment for Tardive Dyskinesia and they look good. Tardive Dyskinesia is a disorder characterized by involuntary movement and often stems from long-term use of certain schizophrenia treatments. Using the Abnormal Involuntary Movement Scale, the study showed an overall 41.3% decrease in the involuntary movements among the treated group. The company is now initiating an Investigational New Drug application with the Food and Drug Administration.
Now what: For investors in drug developers, these positive milestones are always good news. Neurocrine scored some upfront cash from its partnership with Abbott