Drug developer Vectura has announced that the first three QVA149 Phase III studies in the treatment of chronic obstructive pulmonary disease (COPD) all met their primary endpoints.
The results demonstrate the potential of the product as a treatment for COPD.
Chief Executive Dr Chris Blackwell said: "Achieving the primary endpoints in all three of the Phase III studies gives us confidence that QVA149 could be the first product of this type to provide benefit to patients with COPD in a multi-billion dollar market that is still growing.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"QVA149 is an investigational inhaled, once-daily, fixed dose combination of the long acting beta2-agonist (LABA) indacaterol, and the long-acting muscarinic antagonist (LAMA) glycopyrronium bromide (NVA237). Data from the clinical trial program, examining QVA149 in a number of settings, will be submitted for presentation to a major medical congress later this year."
The share price rose 5.07% to 57.00p by 11:43.
10 vinyl records worth up to £10,000 - is one in your collection?
News Vinyl is experiencing a resurgence and collectors will pay up to £10,000 for some albums - is it time to dust off your old records?
By Marc Shoffman Published
FCA: Banks are still short-changing savers
The latest FCA review finds that while public shaming has encouraged providers into offering better deals on savings, many of those with closed accounts are still being shortchanged.
By John Fitzsimons Published