Inovio Pharmaceuticals Inc said its drug to treat abnormal growth of pre-cancerous cells on the surface of the cervix met its main goal in a mid-stage trial.
Inovio shares jumped 27 percent to a three-month high of $14.14 on the American Stock Exchange. They were up 23.5 percent at $13.78 in morning trade.
The pre-cancerous cells, commonly know as cervical dysplasia, are caused by the human papillomavirus (HPV), a sexually transmitted disease. Left untreated, the condition can sometimes worsen to an early form of cancer.
The drug, code named VGX-3100, was effective in treating pre-cancerous cervical disease and cleared HPV infection, the company said.
(Reporting by Anand Basu; Editing by Don Sebastian)