NEW YORK (TheStreet) -- Anacor Pharmaceuticals (ANAC) shares closed trading up by 55.93% to $131.93 on heavy volume on Monday, after the company announced that the phase III studies of its topical eczema treatment achieved significant results.
The company reported that nearly half the patients treated with Crisaborole Topical Ointment twice daily met secondary endpoints, achieving response rates above 30% within 29 days.
Anacor conducted two studies with about 750 patients each. A third of the patients were treated with medications other than Crisaborole.
Eczema is a skin disease that affects between 18 million and 25 million people in the U.S., according to the company.
Separately, TheStreet Ratings team rates ANACOR PHARMACEUTICALS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ANACOR PHARMACEUTICALS INC (ANAC) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity."
ANAC data by YCharts