Alexion Pharmaceuticals Inc. said Thursday that Soliris met key goals in two midstage studies focusing on a rare kidney disorder in children.
The company is studying Soliris as a treatment for atypical hemolytic uremic syndrome, a rare disease among children that can cause kidney failure and high blood pressure. The drug is already approved to treat a rare chronic disease called paroxysmal nocturnal hemoglobinuria, which causes a breakdown of red blood cells and leads to anemia.
Alexion said Soliris met its key goals of increasing platelet count and cutting back dialysis treatments. About 60 percent of patients with the condition require dialysis and a kidney transplant, or they could die with a year of diagnosis.
The two midstage studies are ongoing and results will be presented at the American Society of Nephrology's annual meeting held between Nov. 18 and Nov. 21 in Denver.
Shares of Alexion rose $1.29, or 1.9 percent, to $69.36 in early afternoon trading. The stock earlier reached a 52-week high of $71.99 after the company reported upbeat third-quarter financial results and boosted its financial guidance for 2010.
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