Ultragenyx Pharma +20% on positive results for hypophosphatemia drug test

|About: Ultragenyx Pharmaceutical Inc. (RARE)|By:, SA News Editor

Ultragenyx Pharmaceutical (NASDAQ:RARE+19.8% AH on news that its burosumab drug to treat x-linked hypophosphatemia, a genetic kidney disorder, met its primary endpoint in a phase 3 study.

RARE says patients treated with the drug showed a statistically significant improvement in serum phosphorus levels, with 94% of patients achieving normal levels vs. 8% on placebo.

The study was jointly conducted with Japan's Kyowa Hakko Kirin.