CombinatoRx surges on positive Phase II data

Shares of CombinatoRx surged 20 percent this morning after the company announced positive data for its rheumatoid arthritis therapy, CRx-102. Patients taking the drug experienced a 50 percent reduction in C-reactive protein, which is associated with inflammation common in RA. Patients taking a placebo experienced a 19 percent reduction of the protein. CombinatoRx developed the drug by combining two generic drugs, the cardiovascular agent dipyridamole and an unconventionally low dose of the steroid prednisolone. CombinatoRx was a 2004 Fierce 15 company.

"We are extremely pleased with the results of CRx-102 in this third proof-of-concept clinical study," said Alexis Borisy, president and CEO of CombinatoRx. "The magnitude of clinical activity observed to date with CRx-102, both on ACR 20 responses in rheumatoid arthritis and previously with AUSCAN measures in osteoarthritis, demonstrates the potential clinical utility of this new drug candidate and further validates the CombinatoRx approach."

- here's the AP report on the trial data