Here's Why Momenta Pharmaceuticals Stock Jumped Higher Again Today

Shares of Momenta Pharmaceuticals (NASDAQ: MNTA) continued to climb after the biotech updated investors on its pipeline progress and what to expect this year. Shares were up nearly 24% on Tuesday and are up another 10.4% at 1:16 p.m. EST today.

M254, the company's antibody product, appears to be helping patients with a blood disorder called idiopathic thrombocytopenic purpura that results in low platelet levels. Five of six patients treated with M254 saw their platelet counts increase to the target level. The second part of the study is ongoing and should produce data in the second quarter of this year. Momenta also plans to start a clinical trial later this year testing M254 in a neurological disorder called chronic inflammatory demyelinating polyneuropathy.

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Source Fool.com