Portola Pharma's lead drug meets main goal in mid-stage study

June 11 Wed Jun 11, 2014 8:53am EDT

June 11 (Reuters) - Portola Pharmaceuticals said its experimental drug reversed the effect of a generic blood thinner in a mid-stage study, indicating the drug would allow coagulation in cases of excessive bleeding or urgent surgery.

The company's shares rose 7 percent in premarket trading.

The drug, andexanet alfa, was well tolerated in the study and no serious adverse events were reported, Portola said in a statement on Wednesday. (Reporting by Anjali Rao Koppala in Bangalore; Editing by Kirti Pandey)