Arena Pharmaceuticals Inc (NASDAQ:ARNA) stole the show on Nasdaq today, with shares up over 47% to $21.11.
It came after the group unveiled positive results from a drug study.
A phase 2 study of a drug targeted at pulmonary arterial hypertension, a disease that causes high blood pressure in the lungs, showed positive findings.
In a study of 61 patients, those that received 'ralinepag' showed 29.8% greater improvement than patients in a placebo group and 20.1% improvement compared with the baseline, the drugs firm said.
"The positive outcome of this Phase 2 trial in a contemporary PAH patient population is an important milestone in the development of ralinepag for the treatment of patients suffering from this grievous illness," said Preston Klassen, the chief medical officer of Arena.
"It is exciting to see the positive nonclinical pharmacological profile translating into potentially the first oral prostacyclin therapy that may approach consistent therapeutic levels without the complexity of parenteral (IV) therapy. These data give us confidence to move expeditiously toward a Phase 3 clinical program."
Pulmonary Arterial Hypertension (PAH) is a rare, chronic life-threatening disorder.
The increased blood pressure strains the heart, which can limit physical activity, result in heart failure and reduce life expectancy.