Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) jumped more than two-thirds as a phase II study of its treatment for systemic sclerosis showed significant benefits over a placebo.
In a trial of 42 patients, those taking Resunab registered a 33% improvement registered for lung function, skin hardening and other symptoms compared with zero improvement for the placebo group.
“No drug has ever shown has shown efficacy in scleroderma,” Yuval Cohen, chief executive, told Reuters.
“What we’ve seen here is unprecedented – to get these types of responses in a study that is so short and so small.”
Sclerodama affects about 90,000 people in the US and Europe with no cure or even real understanding of what causes the disease.
Treatments so far have focused on alleviating damage to affected organs, but Resunab tackles the chronic inflammation and fibrosis it causes.
Corbus shares today jumped by 64% to US$9.64 and have risen by nearly 500% so far year.
Story by ProactiveInvestors