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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Arrowhead Research Corp. (MM) | NASDAQ:ARWRD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.62 | 0 | 01:00:00 |
By Chelsey Dulaney
Arrowhead Research Corp. released data Thursday showing its experimental hepatitis B treatment significantly reduced the virus in humans and chimpanzees, sending shares of the company soaring in early trading.
Shares of Arrowhead surged 34% to $9.05 a share in premarket trading. Shares of Arrowhead have gained 35% in the past month.
Arrowhead has been racing against competitors such as Gilead Sciences Inc. to develop a new hepatitis B drug. Jefferies analysts have projected Arrowhead's lead candidate, ARC-520, could potentially reach $4.5 billion in peak annual sales, with market entry around 2020. But some analysts have said the drug hasn't yet proven it can be a functional cure for the disease.
Arrowhead released the data ahead of an analyst day in New York.
Arrowhead said in human studies of patients who tested positive for the E-antigen, HBeAg, a single dose of ARC-520 reduced the antigen by up to 98%. The E-antigen is a protein made by the virus, which indicates that there is a lot of virus in the blood and it can be easily spread to others.
Hepatitis B can lead to liver diseases such as cirrhosis and cancer.
The treatment also reduced the S-antigen by up to 99% in human patients. The S-antigen is a surface antigen found in the blood of someone infected with hepatitis B. Arrowhead said it is currently conducting phase-two human trials of the drug.
The chimpanzee studies, which gave up to 11 monthly doses to 9 chimps, reduced the S-antigen by amounts ranging from 81% to 99%.
Arrowhead said it hasn't seen any serious or severe side effects in humans or chimps.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 24, 2015 09:45 ET (13:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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