Shares of Ironwood Pharmaceuticals Inc. (IRWD) jumped 3.5% to $17.93 in premarket trading on Monday, Dec. 4, after the Cambridge, Mass.-based firm unveiled top-line data from a pair of Phase 2a studies evaluating IW-1973 in patients that have type 2 diabetes and hypertension.
"Consistent with pre-clinical observations, in both studies treatment with IW-1973 led to blood pressure reductions and improvements in metabolic parameters, including reductions in fasting plasma glucose and cholesterol levels, in patients who were taking a stable regimen of therapies to manage their disease," Ironwood said.
Meanwhile, shares of Ultragenyx Pharmaceutical Inc. (RARE) were up 4.5% to $54 after the Novato, Calif.-based firm, along with Kyowa Hakko Kirin Co. Ltd. and Kyowa Kirin International plc, reported positive 48-week data from a Phase 3 study of burosumab (KRN23) in adults with X-linked hypophosphatemia, a bone disease.
Ultragenyx and Kyowa Hakko Kirin in August 2013 signed a collaboration and license pact to develop and commercialize KRN23.
In other news, Cambridge, Mass.-based Ra Pharmaceuticals Inc. (RARX) unveiled positive interim data from its Phase 2 clinical program on RA101495 SC for the treatment of blood disorder paroxysmal nocturnal hemoglobinuria. Shares of Ra climbed 1.8% to $14.49 in premarket trading.