NLS Pharmaceutics shares rise as narcolepsy treatment moves to phase 3 studies

Shares of NLS Pharmaceutics Ltd.
NLSP,
+9.09%
gained 12% premarket on Monday after the Swiss clinical-stage biopharma company said it would proceed with phase 3 clinical studies of Mazindol ER, a treatment for narcolepsy. Two double-blind phase 3 studies will evaluate Mazindol ER versus placebo in adult patients with narcolepsy type 1 starting this summer, NLS said in a release Monday. Narcolepsy is a chronic neurological condition that affects the brain’s ability to control sleep cycles, often causing excessive daytime sleepiness.