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fibromyalgia
by phil (no login)
NEW YORK (Dow Jones)--Shares of Jazz Pharmaceuticals Inc. (JAZZ) jumped as much as 62% Thursday, a day after the drug company said preliminary results from a second Phase III clinical trial of its fibromyalgia treatment backed positive results from its first study.
Shares were recently trading at $4.83, up $1.58 or 49%. Shares have quintupled in June, but they're still well off their 52-week high of $8.95 from June 2008.
The company has been developing sodium oxybate - which is currently marketed as Xyrem to treat narcolepsy - to be used for the second indication of fibromyalgia treatment. Sodium oxybate hasn't been evaluated by regulators for the treatment of fibromyalgia and isn't approved for this use, but the company said it intends to file for Food and Drug Administration approval by the end of the year.