Shares of drug developer, Raptor Pharmaceutical Corp. (Nasdaq: RPTP) were up as much as 58 percent from Friday’s close, in morning trading today after the company announced that a mid-stage study of its liver disease drug met its main goal.
Levels of the second enzyme, aspartate aminotransferase (AST), also saw significant improvements with patients seeing 41 percent reduction by the end of the treatment phase.
Raptor is also developing its drug, DR Cysteamine, for genetic disorders like cystinosis and Huntington’s disease.
C.K. Cooper and Co’s Jeffrey Cohen, who is the sole analyst covering Raptor, said Monday’s news does not change his “hold” rating on the stock.
“The net-present value of the pipeline is about $2.88,” Cohen said.