Opexa's shares rise on the good news for it's MS Drug "Tovaxin"
Posted Nov 17 2009 10:20pm
NEW YORK, Sept 8 (Reuters) - Opexa Therapeutics Inc ( OPXA.O ) said on Tuesday further analysis of clinical data shows that more than 83 percent of patients taking its experimental multiple sclerosis drug remained relapse-free after a year.
The news more than doubled the value of company shares.
The biotechnology company said the favorable data were seen in a mid-stage study of 150 patients with relapsing remitting multiple sclerosis. Patients with this type of MS -- typically the initial stage of the progressive neurological disease -- have unpredictable relapses followed by months to years of no new signs of disease activity.
The company said the annualized relapse rate among patients who took its Tovaxin drug fell to 20 percent, a 42 percent reduction compared with placebo.
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