Shares for Isis Pharmaceuticals Inc. have again surged following news of positive clinical trial results, hitting its all-time high of $39.83 in midday trading before settling at $38.48 — a 7 percent increase from the previous day of trading.
Stock rose on news that a Phase 2 study of its drug APOCIII showed dramatic decreases in triglyceride levels in patients with a rare genetic disorder called chylomicronemia that doesn’t let the body properly break down fat cells.
The now-$4.4 billion market cap company has been on an upward trajectory all year, trading Jan. 2 at $10.82 a share.
The company’s proprietary “antisense” therapy engineers RNA molecules to deactivate faulty genes.
— Meghana Keshavan