MedImmune's Psoriasis Drug May Go More Than Skin-Deep

Shares of MedImmune(MEDI Quote) are up 4% Monday after the biotech firm released positive test results for a new psoriasis drug over the weekend.

The midstage tests for MEDI-507 suggest the drug will be just as effective as similar psoriasis drugs under development by Biogen(BGEN Quote) and a joint venture between Genentech(DNA Quote) and Xoma(XOMA Quote).

MedImmune presented results from three studies at the European Society of Dermatological Research. The company said that approximately 39% of patients taking MEDI-507, also known as siplizumab, by injection were able to reduce their psoriasis symptoms by 75%, a level considered to be the gold standard by dermatologists. ...