* Co expects to submit marketing application in next few
* Shares jump 44 pct to a near two-year high
(Adds detail, background, shares)
March 13 Venaxis Inc said its
appendicitis test correctly predicted results in 97 percent of
patients in a clinical trial, sending its shares up 44 percent
to a nearly two-year high.
The biotechnology company said it expected to submit a
marketing application for the test to the U.S. Food and Drug
Administration in the next few weeks.
Venaxis, formerly known as AspenBio Pharma, received
marketing approval for the APPY1 test in Europe in January 2013.
The test is designed to rapidly help identify patients at
low risk of acute appendicitis and manage the large number of
children and adolescents who enter hospital emergency rooms with
If appendicitis - the inflammation of the appendix - is
suspected, physicians often suggest surgery without conducting
diagnostic testing, since prompt surgery decreases the chance of
a burst appendix, a potentially fatal outcome.
But the condition can be hard to diagnose, especially in
children, the elderly and women of childbearing age, because its
main symptom, abdominal pain, is similar to other conditions
including bladder infections and gastritis.
Appendicitis is the leading cause of emergency abdominal
surgery in the United States, and occurs mostly in individuals
aged between 10 and 30, according to National Institute of
The Colorado-based company's stock was up 25 percent at
$3.39 in morning trade on the Nasdaq. Nearly 6.7 million shares
changed hands by 1057 ET, more than 17 times their 10-day moving
(Reporting by Esha Dey and Natalie Grover in Bangalore; Editing
by Simon Jennings)