Shares of Sage Therapeutics (SAGE) climbed 7.1% to $70 in premarket trading on Thursday after the Cambridge, Mass.-based firm said the U.S. Food and Drug Administration has given fast track designation to SAGE-217 for development as a potential treatment for major depressive disorder.
Meanwhile, Incyte (INCY) shares were up 7.1% to $129. The Wilmington, Del.-based firm on Wednesday announced the publication of new data an ongoing study of Incyte's selective IDO1 enzyme inhibitor epacadostat in tandem with Merck's (MRK) anti-PD-1 therapy Keytruda.
Also on Wednesday, Incyte said the American Society of Clinical Oncology has published phase 1/2 data from an ongoing study of epacadostat, Incyte's selective IDO1 enzyme inhibitor, in tandem with Opdivo (nivolumab), Bristol-Myers Squibb's (BMY) PD-1 immune checkpoint inhibitor.
Among the other biotech movers was Shire (SHPG) , whose American depository shares were up 6% to $193.10. The company unveiled positive topline results form a phase three study of subcutaneously administered lanadelumab versus placebo over 26 weeks in patients 12 years old or up with Hereditary Angioedema.
In addition, Shire said The Lancet has published results from a phase two study of PF-00547659 (now called SHP647), an anti-mucosal addressin cell adhesion molecule 1 (MAdCAM-1) antibody, for the treatment of moderate-to-severe ulcerative colitis in adults.
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