Dyax shares soar on late-stage DX-88 data

Shares of Dyax were on a roll in pre-market trading after the company announced that its lead drug hit its primary endpoint in a late-stage trial for a genetic blood disorder. Researchers said that 93.8 percent of the volunteers taking DX-88 reported reduced symptoms of hereditary angioedema. That compared to 58.3 percent of patients in the placebo arm reporting reduced symptoms. Symptoms of the rare disease, triggered by a protein deficiency, include swelling of the face, hands and throat. And Dyax officials said that the data would allow the company to complete its application to the FDA in the fourth quarter. Its shares were up about 25 percent on the news.

"The DX-88 BLA will include the most extensive placebo-controlled assessment of any therapy for the treatment of HAE and was based on a Dyax-developed comprehensive endpoint evaluation," said CEO Henry E. Blair. "We look forward to submitting our BLA and, ultimately, commercializing this innovative therapy."

- read the press release
- check out the AP report

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