Tanox Sees Positive Results for Peanut Allergy Drug
The biotech company said its Phase II tests have revealed postive results against peanut allergies.
The biotech company said its Phase II tests have revealed postive results against peanut allergies.
Biopharmaceutical company
Tanox
(TNOX)
said its peanut allergy drug had achieved positive preliminary results in Phase II trials.
Tanox said the drug, TNX-901, met its primary endpoint, which was stronger threshold to peanuts ingested orally, with statistical significance. The tests were conducted using 84 patients, and further studies are being planned.
According to a press release, the company said the detailed results of the study will be published in a medical journal or presented at a medical conference later this year.
Shares of Tanox were climbing 12.47% to $13.45 on the news after closing at $11.96 Tuesday.
