AtheroGenics shares surge on late-stage diabetes data

AtheroGenics also saw its stock price soar this morning. Researchers for the company say that both doses of AGI-1067--75 mg and 150 mg--hit their primary endpoints in a late-stage trial for diabetes. The primary efficacy endpoint was a reduction in glycosylated hemoglobin (A1c) versus placebo at the end of the study's six-month dosing regimen. Shares of AtheroGenics shot up 60 percent.  Late last year AtheroGenics discontinued research into the 300 mg dose after seeing side effects among patients.

"We believe that AGI-1067, through its unique mechanism of action, could become the first diabetes treatment with demonstrated cardiovascular safety, and with the potential to reduce cardiovascular hard events including cardiovascular death, heart attack and stroke, as reported from the 6,144 patient Phase 3 ARISE trial, which concluded in 2007," said CEO Russell M. Medford, M.D., Ph.D.

- check out the AtheroGenics release