Why Amicus Therapeutics (FOLD) Stock Is Surging Today

NEW YORK (TheStreet) -- Amicus Therapeutics  (FOLD) surged Tuesday after the company announced its lead drug migalastat was effective in treating patients with Fabry disease in a late-stage trial.

Amicus found the drug effective in patients after 12 months of treatment in the trial, which tested migalastat as a form of monotherapy in patients with Fabry disease, a disorder in which a fat called globotriaosylceramide builds up in the body's cells. The company also released positive 24-month data. 

"Today is a great day for Amicus and the Fabry community," said Chairman and CEO John F. Crowley in a statement. "Pending positive data from our second Phase 3 study we expect to meet with regulatory authorities to discuss these data and determine the fastest registration pathway for migalastat."

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The stock was up 21.74% to $2.24 at 2:04 p.m.

FOLD Chart

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