HAWTHORNE, N.Y. (AP) -- Shares of Acorda Therapeutics Inc. soared in premarket trading Monday after the biotechnology company said its multiple sclerosis drug candidate Fampridine-SR met its goal in a late-stage trial.

Acorda said that 42.9 percent of patients treated with Fampridine-SR saw a consistent improvement in walking compared with only 9.3 percent of those on placebo.

A prior late-stage trial also met its goal.

Acorda said it plans on submitting an application to the Food and Drug Administration in the first quarter of 2009 and requesting a priority review, meaning the agency will take six months to review the application as opposed to the standard 10 months.

Shares rose 22.3 percent to $26.36 in premarket trading from a $21.56 close Friday.

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