Apogee Therapeutics rises as asthma drug shows promise in early trial

Shares of drug developer Apogee Therapeutics APGE.O rise 1.66% to $78.35 premarket

Co says its experimental drug zumilokibart showed strong results in an early-stage trial for adults with mild-to-moderate asthma

Zumilokibart cut airway inflammation in the adults - AGPE

Effect lasted up to 32 weeks after a single dose; no serious side effects reported, says co

Co's zumilokibart also being tested for atopic dermatitis, a chronic skin condition - APGE

Apogee expects more trial data this year and aims to start late-stage studies next year

As of last close, stock up ~3% over the past year