NEW YORK (TheStreet) -- Arrowhead Research Corp. (ARWR) is up 12% to $18.41 in trading Tuesday.
The jump comes following the biopharmaceutical company's announcement that it had fully enrolled and dosed the first cohort of eight patients into the Phase 2a clinical trial of its hepatitis B virus treatment, ARC-520.
The enrollment and dosing of these patients puts Arrowhead on schedule to meet its goal of completing dosing in the second quarter and releasing top line results in the third quarter.
Must Read: Warren Buffett's 10 Favorite Stocks
"The pace of patient accrual for the ARC-520 Phase 2a study has been very encouraging with the first dose group being enrolled and dosed in just over a week," said Christopher Anzalone, Ph.D., Arrowhead's President and CEO. "According to the study protocol, we expect to begin dosing the next cohort in May and remain confident that we can release top line data in the third quarter."
The study will evaluate the depth and duration of hepatitis B antigen decline in response to ARC-520.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.