BioCentury
ARTICLE | Clinical News

Portola lifted on Phase III data

October 2, 2014 2:57 AM UTC

Portola Pharmaceuticals Inc. (NASDAQ:PTLA) gained $4.04 (16%) to $29.32 on Wednesday after its andexanet alfa met the primary and secondary endpoints in a Phase III study to reverse the anticoagulant activity of Eliquis apixaban from Bristol-Myers Squibb Co. (NYSE:BMY) and Pfizer Inc. (NYSE:PFE).

Andexanet alfa, a recombinant protein that reverses the anticoagulant activity of Factor Xa inhibitors, has breakthrough therapy designation from FDA. In the first of two Phase III ANNEXA-A studies, data showed that 400 mg of andexanet alfa immediately and significantly reversed the anticoagulation activity of Eliquis. ...