Strong new data for InterMune's Esbriet sees the firm's stock rocket

US biotech firm InterMune (Nasdaq: ITMN) has released top-line data from ASCEND, a Phase III trial evaluating pirfenidone (trade name Esbriet) in patients with idiopathic pulmonary fibrosis (IPF), showing that the drug reduced the progression of this fatal lung disease.

InterMune’s share price more than doubled to $35.51 in mid-morning New York trading - closing at $37.80, the biggest intraday increase since the company had its initial public offering in March 2000.

The study demonstrated that pirfenidone significantly reduced IPF disease progression as measured by change in percent predicted forced vital capacity (FVC) from Baseline to Week 52 (rank ANCOVA p<0.000001). Additionally, significant treatment effects were demonstrated on both of the key secondary endpoints of six-minute walk test distance (6MWD) change (p=0.0360) and progression-free survival (PFS) (p=0.0001).