Big gain for Receptos on UC data

Receptos Inc. (NASDAQ:RCPT) jumped $28.02 (41%) to $95.76 on Tuesday, building its market cap to $2.6 billion, following disclosure after market on Monday that RPC1063 met the primary endpoint in the 199-patient Phase II TOUCHSTONE study to treat ulcerative colitis (UC) (see BioCentury Extra, Oct. 27). CFO Graham Cooper told BioCentury he expects discussions of a worldwide strategic collaboration will "naturally occur" now that the study's data have been announced.

The company reported that clinical remission was seen at week 8 in 16.4% of patients receiving 1 mg doses of the selective sphingosine 1-phosphate receptor ( S1PR1; S1P1; EDG1) modulator, compared to 6.2% of patients on placebo (p<0.05). ...