Chelsea and Micromet leap on strong clinical data for Northera and blinatumomab

13 June 2011

USA-based Chelsea Therapeutics International’s (Nasdaq: CHTP) shares soared 16% to $4.87 early Friday after analysts at Roth Capital tripled their price target of the stock to $18, following positive Phase III data for its neurology drug Northera (droxidopa). Also, shares of Micromet (NasdaqGS: MITI) leapt 14% to $6.05 on good Phase II results for its leukemia drug candidate blinatumomab.

Northera Phase III program in neurogenic orthostatic hypotension

Chelsea Thera announced new data from Phase III trials in symptomatic neurogenic orthostatic hypotension (NOH) demonstrating the activity and tolerability of its lead product candidate Northera, an orally active synthetic precursor of norepinephrine, at the Movement Disorder Society's 15th International Congress of Parkinson's Disease and Movement Disorders in Toronto, Ontario, Canada.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK