May 14, 2009 / 1:11 PM / in 10 years

UPDATE 1-Medarex rheumatoid arthritis drug shows promise

* Meets goal in proof-of-concept mid-stage trial

* Shares up 7 percent

May 14 (Reuters) - Medarex Inc MEDX.O said its rheumatoid arthritis (RA) drug, MDX-1100, met the main goal of a mid-stage proof-of-concept trial.

The main goal of the study was to show a 20 percent improvement in RA signs and symptoms at 12 weeks and the results were statistically significant when compared to a dummy drug, the company said.

The trial studied 70 patients who were receiving RA drug methotrexate. Patients were given either placebo or MDX-1100 every two weeks for a total of six doses.

Medarex said it plans to explore the potential of MDX-1100 in a range of inflammatory diseases.

Medarex shares were up 7 percent before the bell at $6.61. They closed at $6.17 Wednesday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Himani Sarkar)

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