Shares of Boston-based Vertex Pharmaceuticals (VRTX) - Get Report jumped 21%, to $108.50, in premarket trading on Wednesday after the company on Tuesday night announced successful outcomes from two clinical trials involving tezacaftor, a second-generation "corrector" used in combination therapies to treat the underlying cause of cystic fibrosis.
Meanwhile, shares of Sangamo Therapeutics (SGMO) - Get Report were up 12.4%, to $4.55. The Richmond, Calif.-based company announced the presentation of new data that show "significant reduction of tau mRNA and tau protein expression using the Company's zinc finger protein transcription factor (ZFP-TF)-mediated gene regulation technology."
Sangamo said the results are "the first evidence of a tau lowering agent demonstrating efficacy on neuritic dystrophy in an amyloid mouse model of Alzheimer's disease."
The data were presented by the company's 's collaborators from Massachusetts General Hospital Alzheimer's Disease Research Center and Harvard Medical School at the 13th International Conference on Alzheimer's & Parkinson's Diseases in Vienna.
Other biotech stock movers on Wednesday include Depomed (DEPO) , whose shares were down 3.4%, to $13.75, on the heels of Tuesday's news that the Newark, Calif.-based company has settled with activist investor Starboard Value, named a new CEO and three directors to the board.
--Adam Feuerstein and Bill Meagher contributed to this article.