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
Dyax pockets $30M in revenue deal. Report
Dyax sent back for more data on DX-88. Report