Stock Alert : Momenta Pharmaceuticals Jumps 17%

Shares of Momenta Pharmaceuticals, Inc. (MNTA) climbed over 17% on Monday morning. The company announced positive topline data from a phase 2 study of a treatment for a neuromuscular disorder.

MNTA is currently trading at $36.39, up $5.34 or 17.19%, on the Nasdaq.

Momenta Pharmaceuticals is a biotechnology company focused on discovering and developing novel biologic therapeutics to treat rare immune-mediated diseases.

The company announced positive topline data from an interim analysis of its Phase 2 Vivacity-MG study of nipocalimab in generalized myasthenia gravis. All four treatment arms showed efficacy in the myasthenia gravis activities of daily living score, the primary endpoint. Additionally, all dosing arms showed strong safety and tolerability profiles.

"We are thrilled with the success of nipocalimab's proof of concept trial in MG. We met our primary endpoint in this trial, demonstrating rapid and durable responses in all 4 dosing arms and a significant correlation between IgG reduction and efficacy," said Craig Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals.

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