Pharmacopeia shares rise on blood pressure data

Pharmacopeia's shares were up today on trial results for PS433540, a hypertension drug. Data showed 'significant' blood pressure reductions in a Phase IIa study in patients with mild to moderate hypertension. The company is also testing PS433540 as a kidney disease treatment.

"We are very pleased with the results of this important Phase IIa trial and look forward to future studies which will further assess the potential of PS433540, perhaps even beyond blood pressure lowering...We believe PS433540's dual mechanism of action may have a positive effect on diabetic kidney disease," said Joseph A. Mollica, Ph.D., Chairman of the Board and Interim President and Chief Executive Officer of Pharmacopeia.

- take a look at Pharmacopeia's release