Pharming shares spike on positive Rhucin data

Shares of Pharming spiked 24 percent on the news that fresh data demonstrated that its lead therapy Rhucin--developed in genetically modified rabbits as a therapy for hereditary angioedema--proved safe and effective in patients involved in ongoing open-label studies. Investors responded to analysts' reports underscoring their belief that the new trial results would help Pharming achieve a regulatory win. One analyst estimated that a decision in Europe and the U.S. is unlikely to come before the second quarter of next year.

The data "confirm the clinical benefits of Rhucin, also in repeat treatment, without showing any adverse reactions or immune responses," said COO Bruno Giannetti. "Furthermore, the total number of treatments has substantially increased, including the successful treatment of serious potentially life-threatening laryngeal attacks."

- check out Pharming's release