An experimental drug to treat lung cancer appeared to benefit two-thirds of patients who used it, according to a study presented on Friday by manufacturer Telik Inc., pushing shares up as much as 17 percent.
The compound, Telcyta, aims to treat non-small cell lung cancer, one of the deadliest and poorly treated types of cancer.
Among 13 patients who took the medication along with a standard chemotherapy combination, seven experienced a partial response, and one patient had a complete response.
Results were presented at the American Society of Clinical Oncology meeting in Orlando, Florida.
Shares were up 35 cents, or 2.1 percent, at $17.35 in afternoon Nasdaq trade after rising as high as $19.87 earlier in the session.
Revision date: June 21, 2011
Last revised: by Tatiana Kuznetsova, D.M.D.