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Human Genome Shares Rise On Lupus Drug Study Data

The Associated Press

NEW YORK (AP) — Shares of Human Genome Sciences Inc. jumped Thursday after the company said its drug candidate Benlysta reduced lupus symptoms over a four-year period in a study.

The stock jumped 59 cents, or 21.7 percent, to $3.30 in afternoon trading. Shares have traded between 45 cents and $8 over the last 52 weeks.

The extended clinical trial showed that Benlysta patients experienced less severe flare-ups from the inflammatory disease and overall, those flare-ups decreased. The long-term study results come ahead of expected late-stage clinical trial data in July. Results from a second late-stage study are expected in November.

"This (study) data makes us incrementally more positive on the upcoming pivotal Phase III BLISS-52 (study) data expected next month," wrote Leerink Swann Research analyst Joseph P. Schwartz in a note to investors.

He maintained an "Outperform" rating on the stock.

Benlysta was previously called LymphoStat-B, and is being developed through a partnership between Rockville, Md.-based Human Genome Sciences and British drug maker GlaxoSmithKline PLC.