08:35 AM EDT, 04/18/2024 (MT Newswires) -- Cerevel Therapeutics ( CERE ) said Thursday that a phase 3 study of its investigational drug tavapadon, which is intended for the treatment of Parkinson's disease has met its primary endpoint.

The drug candidate is being considered as a once-daily treatment for Parkinson's patients in combination with levodopa. Patients in the study experienced an increase of 1.1 hours in "on" time without dyskinesia, or the involuntary, erratic, writhing movements of the face, arms, legs or trunks, compared with those treated with levodopa and a placebo. A reduction in "off" time, the key secondary endpoint, was also observed.

The company said the majority of adverse events reported were mild to moderate in severity.

Full results from the 27-week, 507-patient phase 3 study will be submitted for presentation at future medical meetings and used to support regulatory submissions, the company said.

Shares of the company were up more than 1% in recent Thursday premarket activity.