LONDON (Alliance News) - Faron Pharmaceuticals Ltd shares jumped on Wednesday as the company said it identified an "optimal" subgroup of patients, with a certain genetic mutation, to be treated by its Traumakine treatment.
Faron shares were trading up 37% at 86.00 pence each on the back of the news.
Faron reported that data from its Interest trial showed that Traumakine used on acute respiratory distress syndrome patients carrying a unique polymorphism "showed a substantial reduction in mortality".
Across the US and Europe, around one third of ARDS patients carry the mutation, meaning that the "Traumakine treatment could potentially be most effective and life saving", Faron said.
ARDS is a life-threatening disease caused by an inflammation of the lungs that usually coincides with illnesses such as pneumonia or severe flu.
Faron intends to file the data with regulatory authorities in the first quarter of 2019 to develop Traumakine in the EU and the US for this precision treatment.
The news comes after a phase III trial of Traumakine earlier this year yielded disappointing results, suggesting that the drug had similar effects to a placebo with no medical benefit.
Faron Pharma (FARN)