Shares soar in Vericel after trial shows ixmyelocel-T reduces cardiac events
US biopharmaceutical company Vericel Corp (Nasdaq: VCEL) saw its shares rocket by as much as 92% on Thursday after announcing positive results in its Phase IIb trial of ixmyelocel-T.
The study looked at the impact of the drug on patients with advanced heart failure due to ischemic dilated cardiomyopathy (DCM).
Vericel, which is a leading developer of patient-specific expanded cellular therapies of the treatment of severe diseases and conditions, found the trial met its primary goal.
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