(MENAFN- ProactiveInvestors - UK) Neos Therapeutics (NASDAQ:NEOS) soared in morning trading after the company's drug to treat a common type of childhood behavioral disorder was approved by the U.S. Food and Drug Administration.
Shares increased 33% to $12.49 at 10:11 a.m. in New York.
The drug Adzenys XR-ODT is approved for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) in patients aged six and older the Texas-based company said in a statement on Thursday.
The drug is an orally disintegrating tablet and a longer-acting version of amphetamine a commonly prescribed ADHD drug.
ADHD is a condition with symptoms such as poor concentration hyperactivity and learning difficulties.
The disorder affects about 4.1% of American adults aged 18 years and older in a given year and 9 percent of children aged 13-18 years.
The launch and product shipments of Adzenys XR-ODT will begin in the second quarter of 2016.
The drug will be available in six dosage strengths.
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