Vitae shares soar after psoriasis trial success

18 March 2016

US drug developer Vitae (Nasdaq: VTAE) has seen its share price soar after reporting successful results from its experimental psoriasis drug trial.

The stock nearly doubled in early trading, climbing 85.16% to $7.61 a share before closing up 65.21% at $6.79 a share in US trading yesterday.

Vitae announced this week that a Phase IIa proof-of-concept clinical trial had shown positive top line results on tests of VTP-43742, an oral medication with potential to treat multiple autoimmune disorders, including psoriasis.

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