Why Reata Pharmaceuticals Is Rallying 17.5% Today

Reata Pharmaceuticals (NASDAQ: RETA) shares were surging 17.5% higher at 3 p.m. EST today, after the company reported that its experimental drug bardoxolone improved kidney function in patients with Alport syndrome.

Alport syndrome is a rare genetic disease that increases the reabsorption of protein in the kidney, causing inflammation and fibrosis. There are about 12,000 people with Alport syndrome in the U.S., and almost all of these patients will develop end-stage renal disease. By age 25, roughly 50% of male patients with the most common form of Alport syndrome require dialysis or kidney transplant.

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Source: Fool.com