Jazz Pharmaceuticals Inc (NASDAQ:JAZZ) said preliminary data from a second late-stage trial of its experimental pain drug Xyrem, showed that the study met its main goal, sending its shares up 41 percent.
The company, which already markets the drug as a treatment for sleep disorder, said patients treated with Xyrem showed a decrease of 30 percent or more in pain and fatigue.
Jazz said it expects to file for marketing approval of the drug for fibromyalgia with the U.S. health regulator, while its Belgian partner UCB group would consult with the European Medicines Agency to define the path forward.
Shares of the company, which have nearly tripled in the last three months, jumped to a high of $4.59 after the bell. They closed at $3.25 Wednesday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Gopakumar Warrier)
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Jazz Pharmaceuticals Inc (NASDAQ:JAZZ) said preliminary data from a second late-stage trial of its experimental pain drug Xyrem, showed that the study met its main goal, sending its shares up 41 percent.
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