Shares of Human Genome Sciences tripled today after the company reported positive data for its experimental lupus therapy, which has faced a long lineup of skeptics.
Researchers say that the data on Benlysta was positive for reducing symptoms of lupus, a bottom-line conclusion that was completely unexpected by many of the industry's top analysts. Earlier trials had proven a disappointment, and other lupus programs had foundered over the years.
The data was a tonic for HGS stock, which jumped to $10.40 on the news.
"We have met the criteria in this study for success," Thomas Watkins, Human Genome's president and chief executive, told reporters. "Now we need to do it a second time in the other study."
- read the story from Bloomberg