Shares of Sarepta Therapeutics Inc rose as much as 20 percent to a 19-month high on Thursday after a Missouri TV station said the company's experimental drug for muscle weakness and loss of muscle tissue showed positive signs in one of the 12 enrolled patients.
The drug Eteplirsen is being tested in a mid-stage trial to treat patients with Duchenne Muscular Dystrophy (DMD), a genetic disorder that causes severe and progressive muscle loss in boys and has no approved treatments.
Children in the trial were either given 30 mg or 50 mg of Eteplirsen. The patient, 12-year old Justin Trovillion, has responded well to the 50 mg dose of the drug, KFVS TV station said on Wednesday.
Shares of the company were up 16 percent at $14.55 on the Nasdaq. The stock was the biggest percentage gainer on the exchange with 2.9 million shares changing hands by 1120 ET, more than two times their 10-day average.
(Reporting by Adithya Venkatesan in Bangalore; Editing by Sriraj Kalluvila)