Stock Alert: Kiniksa Pharma Jumps 15% On Positive Data From Mavrilimumab Study

(RTTNews) - Shares of Kiniksa Pharmaceuticals, Ltd. (KNSA) are gaining over 15% on Tuesday morning after the drug maker announced positive data from a mid-stage study of mavrilimumab in giant cell arteritis.

KNSA is currently trading at $18.32, up $2.48 or 15.66%, on the Nasdaq.

The trial achieved both the primary and secondary efficacy endpoints with statistical significance. Mavrilimumab is an investigational fully-human monoclonal antibody that targets granulocyte macrophage colony stimulating factor receptor alpha.

The FDA recently granted Orphan Drug designation to mavrilimumab for the treatment of giant cell arteritis.

Kiniksa is also evaluating mavrilimumab in severe COVID-19 pneumonia and hyperinflammation and is enrolling the Phase 2 portion of a global, randomized, double-blind, placebo-controlled adaptive design Phase 2/3 clinical trial.