Arena soars on results of autoimmune drug

Arena Pharmaceuticals is headquartered in San Diego. / photo by Eduardo Contreras * U-T

Arena Pharmaceuticals of San Diego has successfully completed an early phase clinical trial of a potential autoimmune drug, the biotech company said Wednesday.

It plans to launch further studies of the medication for the purpose of treating ulcerative colitis and Crohns disease.

Arenas shares surged after the announcement, closing at $5.85, up 76 percent for the day. The companys market value rose past the billion-dollar mark to $1.3 billion, a level it hadnt reached since late June.

The drug, APD334, was found in the Phase 1b clinical trial to lower the level of white blood cells called lymphocytes by up to 69 percent. The lymphocyte counts returned to their previous levels about a week after the drug was given.

Lymphocyte reduction has been linked to the effectiveness of autoimmune drugs targeting multiple sclerosis, ulcerative colitis and Crohns disease, said Craig Audet, Arenas senior vice president of operations and head of global regulatory affairs.

The drugs on the market now that treat these conditions have lymphocytes lowering somewhere in the range of 60 to 70 percent, and they show clinical efficacy, Audet said. Were right in the sweet spot at 69 percent.

The company will get APD334 into Phase 2 trials as soon as humanly possible, he added.

The drug also might be useful for multiple sclerosis and perhaps psoriasis, Audet said. The company said it hasnt decided whether to pursue clinical testing for those conditions.

About 23.5 million Americans have an autoimmune disease, according to a 2011 estimate by the National Institutes of Health. But the American Autoimmune Related Diseases Association estimates the total could be as high as 50 million.

See the article here:
Arena soars on results of autoimmune drug