Acceleron Pharma Inc. XLRN, -5.53% shares gained in after-hours trading Wednesday after the pharmaceutical company revealed positive results from a study of a drug for heart disease.
The company announced that a phase 2 study of a drug called sotatercept helped patients with pulmonary arterial hypertension show “a statistically significant reduction in pulmonary vascular resistance.” “Although the introduction over the past two decades of more than a dozen treatments for PAH has driven the development of today’s combination-therapy strategies, the substantial morbidity still associated with PAH clearly signals the need for a new approach,” Acceleron Chief Executive Habib Dable said in Wednesday’s announcement, adding that the company will now work with authorities to move into phase 3 testing. Acceleron stock was halted ahead of the announcement while down 5.5%, but then gained more than 8% in trading immediately after the halt was listed in the extended trading session. Gains fell to about 3.2% later in the after-hours session.