BUZZ-AnaptysBio climbs on arthritis drug trial data

Shares of drug developer AnaptysBio ANAB.O surge 28.3% to $15.88 in morning trade

Co says its experimental drug, rosnilimab, met the main goal in a mid-stage trial for the treatment of rheumatoid arthritis, a chronic inflammatory disease that primarily affects the joints

The main goal was to evaluate if the drug could significantly reduce symptoms in three dosages using a tool called DAS-28 CRP score, which measures the severity of the disease after 12 weeks in comparison with placebo

ANAB says that the drug will be tested in patients with a type of bowel disease called ulcerative colitis by the second quarter of this year

Stock fell 46% in the last 12 months