Trial Data Lifts IDM Pharma

IDM Pharma(IDMI Quote) soared in after-hours trading Thursday after announcing it presented more positive late-stage trial data for Mifamurtide.

The biopharmaceutical company said it presented updated data from a phase III clinical trial of Mifamurtide (formerly called Junovan) added to chemotherapy to treat osteosarcoma, a rare and often fatal bone tumor in children and young adults. The data, based on long-term follow-ups with patients originally treated in the phase III trial, confirmed that the combination achieved statistically significant overall survival rates.

In July, IDM agreed to submit additional data for Mifamurtide to the FDA. The company is in the process of amending a new-drug application for the drug with the long-term survival data.

Shares rose 29 cents, or 20.9%, to $1.68, in recent after-hours trading.