Spark Therapeutics leaps on news of $15 million milestone payment
US gene therapy company Spark Therapeutics (Nasdaq: ONCE) saw its share rise 10.8% to $59.49 on Wednesday after it announced receipt of an interim payment.
Spark says it has earned a $15 million payment for achieving a pre-specified safety and efficacy profile development milestone in the ongoing hemophilia B Phase I/II trial of investigational SPK-9001, under its collaboration with US pharma giant Pfizer (NYSE: PFE). SPK-9001 has received breakthrough therapy and orphan product designations from the US Food and Drug Administration.
“We continue to make strong, tangible progress with our hemophilia pipeline, and achievement of this second milestone marks further advancement in the development of our investigational gene therapy for hemophilia B,” said Jeffrey Marrazzo, chief executive of Spark Therapeutics, adding: “We look forward to reporting additional data as we continue to document the clinical experience with SPK-9001.”
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