RTTNews | Mar 3, 2021 09:55AM EST

09:54 Wednesday, March 3, 2021 (RTTNews.com) - Shares of KemPharm, Inc. (KMPH) are surging over 70% on Wednesday morning after the US Food and Drug Administration approved its treatment for attention deficit hyperactivity disorder in patients age six years and older.

KMPH is currently trading at $16.07, up $6.64 or 70.41%, on the Nasdaq.

KemPharm announced that FDA approved the new drug application for Azstarys a once-daily product for the treatment of attention deficit hyperactivity disorder (ADHD) in patients age six years and older.

Azstarys consists of serdexmethylphenidate, KemPharm's prodrug of d-methylphenidate, co-formulated with immediate-release d-MPH.

Meanwhile, Corium Inc. will lead the commercialization of the drug as per agreement between KemPharm and Corium. Azstarys is expected to be commercially available in the U.S. as early as the second half of 2021.

Under the agreement, KemPharm may be eligible for up to $468 million in regulatory and sales milestone payments, as well as tiered royalty payments.

Read the original article on RTTNews ( https://www.rttnews.com/3174636/stock-alert-kempharm-surges-70-on-fda-approval-of-adhd-treatment.aspx)

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