The Associated Press March 14, 2011, 10:08PM ET

Impax says Parkinson's drug meets study goal

Impax Laboratories Inc. said Monday that its potential Parkinson's disease drug met key goals in a late-stage study.

The company said the drug candidate IPX066 met key treatment goals when compared with immediate-release carbidopa-levodopa. IPX066 is an extended-release version of carbidopa-levodopa. The study focused on patients with fluctuations in motor function.

The study involved 471 subjects. Impax plans on presenting full study results at an upcoming scientific meeting.

Shares of Impax surged $2.93, or 13.3 percent, to $25 in afterhours trading after closing unchanged at $22.07 during the regular trading session.

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