Dyax hits new 52-week high on positive trial results
Shares of Dyax Corp. (Nasdaq:DYAX) skyrocketed by nearly 18% this morning, hitting a new 52-week high, after the biopharmaceutical company said it soon plans to apply for federal approval of DX-88, its potential treatment for heredity angiodema.
The Cambridge, Mass.-based company reported before the opening this morning positive results from its second Phase 3 trial of the drug candidate, saying DX-88 was well-tolerated with no drug-related serious adverse side effects.
DX-88, according to Dyax, performed better than a placebo in treating HAE, a rare genetic disease characterized by episodes of acute swelling, pain and inflammation. Dyax will complete an application to the U.S. Food and Drug Administration in the fourth quarter.
This morning, Dyax is at $5.10, up $0.77 from Friday’s close, after having reached a new 52-week high of $5.35 earlier in the day. The stock had ranged between $2.80 and $5.18 during the past year.
For detailed price information and news stories on Dyax, click DYAX.
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