Tag - Dyax

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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Dyax Corp’s (Nasdaq: DYAX)  stock skyrocketed Friday morning on the news of positive late-stage trial results for DX-88, its treatment of hereditary angioedema (HAE), an inflammatory condition.

Dyax originally made the announcement after the market closed on Thursday, when shares of the Cambridge, Mass.-based biopharmaceutical company soared by $1.96, or 49%, to $5.96 in after-hours trading on the news.

By Friday morning, Dyax had continued to gain, and its stock was up $2.30, or by 57.5%, to a new 52-week-high of $6.30. Dyax was trading higher on extremely heavy volume of more than 20 million shares – nearly 100 times its three-month average volume of 242,000. Prior to today, the stock had traded between $2.63 (on June 28, 2006) and $5.09 (on April 13, 2006) in the past year.