NEW YORK (TheStreet) -- Zalicus (ZLCS) surged Thursday after Epirus Switzerland announced clinical data from a Phase 3 study of BOW015, a biosimilar infliximab, in patients with active rheumatoid arthritis.
The study is as an equivalence trial to compare BOW015 to Remicade. BOW015 reached an ACR20 response rate of 89.8%, compared to 86.4% for Remicade, in week 16. This figure met the previously specified statistical endpoint.
Zalicus and Epirus Biopharmaceuticals entered into a definitive merger agreement on April 15. Epirus would merge with a wholly-owned subsidiary of Zalicus in an all-stock transaction under the agreement.
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The stock was up 32.42% to $1.43 at 11:06 a.m. More than 7.3 million shares changed hands, which easily surpassed the average volume of 589,406.