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Shares of Longboard Prescribed drugs (NASDAQ:LBPH) rocketed 316% Tuesday after the biotech firm launched constructive topline information from a 1b/2a research for its drug bexicaserin within the remedy of sufferers with developmental and epileptic encephalopathies, or DEEs.
Longboard shares opened at $18.48, reaching a excessive of $25.82 earlier than closing at $25.10, up 316% from Friday’s shut.
Longboard stated bexicaserin, also called LP352, was in a position to obtain a median seizure discount of 53.3% in countable motor seizures, in contrast with 20.8% for the placebo group. The placebo-adjusted discount in seizure frequency was 32.5%.
The drug was additionally in a position to obtain a median seizure discount of 72.1% for Dravet Syndrome, 48.1% for Lennox-Gastaut Syndrome and 61.2% for different DEE situations, Longboard stated.
The corporate stated it was “quickly shifting ahead” with preparations for a world Section 3 program for the drug.
(Updates with closing value information.)