said on Wednesday its experimental drug helped more patients with a difficult-to-treat blood cancer achieve independence from routine transfusions in a late-stage trial, sending shares of the drug developer nearly 50% higher.
The drug, if approved, will enter into a market that already has players such as Bristol Myers Squibb's Geron anticipates a peak market potential of $1.2 billion in the United States and some key EU countries by 2030, Chief Executive Officer John Scarlett told Reuters. The data appears to be a "better/best case scenario" for the drug's chances at approval, said Stifel analyst Stephen Willey.
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