Ultragenyx Reports Positive Initial Data on DTX401 Clinical Trial
On May 15, Ultragenyx Pharmaceutical Inc. (RARE) presented positive initial data from all three cohorts in its DTX401 clinical trial. DTX401 is an adeno-associated virus-based gene therapy. It is undergoing clinical trials for the treatment of glycogen storage disease type 1a (GSD1a). All patients demonstrated significant cornstarch reductions over time and increases in time to hypoglycemia. Ultragenyx is a biopharmaceutical company focused on the development of therapies for rare and ultra-rare diseases.
Sonal alerted subscribers of the news at 8:00 am. The last trade had taken place at 4:11 pm the previous afternoon for $64.61. The stock price moved higher on the announcement and continued to rise throughout the remainder of the day. Ultragenyx closed at $71.29 for an event-day gain of 10.3%.
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