Mixed results from Avanir (NASDAQ:AVNR)

Avanir Pharmaceuticals on Friday announced that the test results for their drug candidate Zenvia shows mixed results for the treatment of involuntary emotional outbursts in patients with multiple sclerosis. Avanir Pharmaceuticals is a biopharmaceutical company that is into development, acquiring and commercialization of novel therapeutic products for the treatment of chronic disease. Avanir’s line of products and product candidates address issues related with central nervous system disorders, inflammation and infectious diseases.

Zenvia, Avanir Pharmaceuticals’ lead product candidate for the treatment of pseudo bulbar affect (PBA) also known as IEED is still under consideration and so far the Food and Drug Administration panel has not given any review about it. On Friday, Avanir Pharmaceuticals said that the data gathered by them compared Zenvia and a placebo against emotional outbursts in patients with multiple sclerosis.  Earlier in August 2009, Avanir Pharmaceuticals reported the full results of Zenvia and had stated that their product candidate, Zenvia met its main goals.

However, on Friday, based on the evaluations of 129 patients suffering from multiple sclerosis, it was concluded that only a larger dose of Zenvia resolves the problem, and patients who were given a lower dose of Zenvia did not show any significant changes and there was no reduction in the emotional outbursts of such patients.

In the afternoon trading, shares of Avanir Pharmaceuticals remained unchanged, but later on it dipped a bit and closed at $2.25 per share. Avanir’s Zenvia is used for the treatment of some neurological disorders including multiple sclerosis, Alzheimer’s disease, Parkinson’s disease and brain injury. Currently, there are no approved medications or treatments for such conditions which is why Avanir Pharmaceuticals is trying hard to break the ice and be the first to come out with some stable product candidate. Avanir said that they are also testing Zenvia for treatment of peripheral diabetic nerve pain.