Here's Why AnaptysBio Inc. Is Rocketing Higher Today
Shares of AnaptysBio Inc. (NASDAQ: ANAB), a clinical-stage biotech developing novel anti-inflammatory drugs, took flight after the company reported positive data from a clinical trial with its eczema candidate. Although it was just a 12-patient proof-of-concept study, the stock soared about 70.7% higher as of 10:15 a.m. EDT on Tuesday.
Today's excitement is due to a big hint that the company's first-in-class IL-33 inhibitor has a shot at becoming an ultra-convenient treatment option for people with atopic dermatitis, the most common type of eczema. At an interval of 57 days after receiving a single dose of ANB020, 10 of 12 patients achieved a 50% or greater improvement. Responses also appear rapid, nine of the 12 patients had achieved a 50% improvement at the 15-day assessment.
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Source: Fool.com