Raptor Pharma jumps on early data for liver drug

NEW YORK (AP) — Shares of Raptor Pharmaceutical Corp. surged Monday after the company reported positive early data from a midstage clinical trial of a liver disease drug candidate.

The Novato, Calif., company is testing delayed-release cysteamine as a treatment for non-alcoholic steatohepatitis, or NASH, which is a progressive type of liver disease. In patients who took the drug, levels of a biomarker that indicates NASH were cut by more than 50 percent, Raptor said.

The company said more than half the patients in the study had normal levels of the biomarker, called alanine aminotransferase, after six months of treatment. Raptor said there are no approved drugs for NASH.

Shares of Raptor climbed 80 cents, or 23.9 percent, to $4.15. At midday, about 274,000 shares changed hands, far above the average full-day volume of 38,400 shares.