UPDATE: Horizon Pharma stock soars 17% premarket on positive trial of eye disease treatment

on Feb28
by | Comments Off on UPDATE: Horizon Pharma stock soars 17% premarket on positive trial of eye disease treatment |

Horizon Pharma plc shares

HZNP, +4.60%

soared 17% in premarket trade Thursday, after the company announced positive results in a late-stage trial of a treatment for active thyroid eye disease, or TED. The company said the phase 3 trial of teprotumumab met its primary endpoint of improving proptosis, or bulging of the eye compared with placebo, with 82.9% of patients showing improvement compared with 9.5% of placebo patients. The trial also succeeded in meeting secondary endpoints and achieving a consistent safety profile with the phase 2 study. The company is expecting to submit a biologics license application to the U.S. Food and Drug Administration in mid-2019. TED is a progressive automimmune disease with a limited window for treatment without surgical intervention. As it progresses, it can lead to other eye issues and even blindness. Horizon shares have gained 49.9% in the last 12 months, while the S&P 500

SPX, -0.05%

has gained 2.9%.

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