Shares of the unique biotech DBV Technologies (NASDAQ: DBVT) surged nearly 20% higher on Wednesday, far outpacing many peer stocks. That's because the company had some very encouraging news to impart about its key pipeline drug.

DBV is developing a patch treatment for peanut allergies called Viaskin Peanut, and on Wednesday, it published an update about the clinical testing of this product.

DBV said that the results of the latest Viaskin Peanut phase 3 trial -- on children 1 to 3 years old -- indicate that 67% of respondents "demonstrated a statistically significant treatment effect" from the patch. This compared favorably to the nearly 34% of patients administered a placebo. The biotech added that the safety results were "generally consistent" with those of prior clinical trials in children aged four and older.

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Source Fool.com