HGS shares soar on late-stage success

Shares of Human Genome Sciences soared 30 percent earlier today after researchers reported that Albuferon hit its primary goal in a late-stage trial. Albuferon delivered data demonstrating that it is as effective as Pegasys, the current standard therapy for hepatitis C.

The ACHIEVE 2/3 trial tested Albuferon in combination with the antiviral ribavirin against two genotypes of the disease. The ACHIEVE 1 trial is testing the efficacy of the drug for a third genotype. Data from that trial is expected in the spring time. Positive data from this trial was treated particularly warmly by investors encouraged to see that the company is on track to seek global regulatory approval in 2009. HGS is partnered with Novartis on the therapy.

"If Achieve 1 is successful, we believe Albuferon could become the market-leading interferon for the treatment of chronic hepatitis C, and we expect that global marketing applications will be filed by fall 2009," said president and CEO H. Thomas Watkins, in a statement.

- see the release
- check out the AP report

Related Articles:
UK court slaps down HGS patent
HGS stock dives on drug safety concerns
HGS, Xencor team up on antibody tech
HGS, Aegera ink $315M cancer deal