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Ultragenyx has positive med test results

April 19, 2017

Shares of Ultragenyx Pharmaceutical Inc. RARE, -2.23% soared in Tuesday’s extended session after the company announced positive results from a phase 3 study of a drug to treat x-linked hypophosphatemia, a genetic kidney disorder. “Patients treated with burosumab demonstrated a statistically significant improvement in serum phosphorus levels, with 94% of patients achieving normal levels compared to 8% on placebo,” said the company in a statement. As the next step, the drug company plans to hold discussions with regulatory agencies in the U.S. and Europe. The study was jointly conducted with Japan’s Kyowa Hakko Kirin Co. Ultragenyx jumped 19% after hours.

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