RTTNews | Jun 29, 2021 09:59AM EDT

09:58 Tuesday, June 29, 2021 (RTTNews.com) - Shares of Cerevel Therapeutics Holdings, Inc. (CERE, CEREW) are surging over 75% on Tuesday morning after the clinical-stage biopharmaceutical company focused on neuroscience diseases announced positive results from an early stage study of Schizophrenia treatment.

CERE is currently trading at $22.20, up $9.63 or 76.61%, on the Nasdaq. While, CEREW, the company's stock listed on Nasdaq CM, is currently trading at $12.00, up $8.13 or 210.08%.

In the study, CVL-231 demonstrated a clinically meaningful and statistically significant improvement in PANSS total score at 6 weeks and was well-tolerated compared with placebo. PANSS, the Positive and Negative Syndrome Scale, is a medical scale used for measuring symptom severity of patients with schizophrenia.

The study found no meaningful differences in gastrointestinal side effects, extrapyramidal symptoms or weight gain between the drug and placebo.

Cerevel developing CVL-231 to be a once-daily formulation with improved tolerability, and plans to advance CVL-231 to phase II development in schizophrenia.

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