Cerev­el's stock rock­ets up on re­lease of ear­ly da­ta in schiz­o­phre­nia, fol­lowed by an of­fer­ing

A cou­ple of years ago, when Pfiz­er shut down its neu­ro­science di­vi­sion, Bain Cap­i­tal picked up the pieces and spun them out in­to a new biotech. On Tues­day, that com­pa­ny was do­ing the hap­py dance, as an ear­ly look at pos­i­tive da­ta in schiz­o­phre­nia sent shares soar­ing more than 135%.

Cerev­el Ther­a­peu­tics said Tues­day that pa­tients who took a 30 mg dose of its CVL-231 once a day saw a mean re­duc­tion from base­line of 19.5 points on the Pos­i­tive and Neg­a­tive Syn­drome Scale (PANSS), a med­ical scale pub­lished back in 1987 that’s used for mea­sur­ing symp­tom sever­i­ty in those with schiz­o­phre­nia. That group saw a mean re­duc­tion of 12.7 points on the PANSS scale com­pared to the place­bo group, with a p-val­ue of 0.023, ac­cord­ing to the com­pa­ny.

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