Dyax shares skyrocket on successful Phase III

Shares of Dyax rocketed up almost 50 percent in premarket trading after the developer announced that its drug candidate for hereditary angiodema proved safe and effective in a Phase III trial. The data was a vindication of sorts. Genzyme dropped out of a collaboration on DX-88 after the FDA delayed their application, though Genzyme retains an equity stake in the company. A confirmatory trial to substantiate the results is being planned. Angiodema causes swelling under the skin. In the 72-person trial, symptoms improved after four hours.

- for more on the results, see this Dyax release
- here's the AP report on the trial results

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