Shares of Inovio Pharmaceuticals Inc. (INO) jumped 9.4% to $7.09 in premarket trading on Thursday, Oct. 5, on positive safety and and immune response results from its Phase 1 study of Zika vaccine GLS-5700.
The study "induced high levels of binding antibodies in 100% of participants," Inovio said. "Robust neutralizing antibody and T cell immune response were also observed in vaccinated subjects."
The results are published in the New England Journal of Medicine. Plymouth Meeting, Pa.-based Inovio -- a holding in TheStreet's Stocks Under $10 portfolio -- is developing GLS-5700 with Seoul-based GeneOne Life Science Inc and academic collaborators from the U.S. and Canada.
Meanwhile, shares of Acadia Pharmaceuticals Inc. (ACAD) were up 5.7% to $41.38 after the San Diego firm said Wednesday it has launched a Phase 3 study of pimavanserin for the treatment of hallucinations and delusions associated with dementia-related psychosis.
The company also said the FDA has given breakthrough therapy designation to pimavanserin for dementia-related psychosis.
The FDA in April of last year approved pimavanserin for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
In other news, Biogen Inc. (BIIB) said new data from the Phase 3 Endear study showed that "earlier initiation of treatment with Spinraza (nusinersen) may improve motor function outcomes in infants and children with spinal muscular atrophy (SMA)."
Cambridge, Mass.-based Biogen presented the data at the International Annual Congress of the World Muscle Society in Saint Malo, France.
Biogen shares were up 1.3% to $319.
