Alder rises on Phase IIb chronic migraine data

Alder Biopharmaceuticals Inc. (NASDAQ:ALDR) gained $8.52 (50%) to $25.70 on Monday after reporting that two doses of IV ALD403 met the primary endpoint in a Phase IIb trial to prevent chronic migraine.

The calcitonin gene-related peptide ( CGRP) receptor inhibitor is already in the Phase III PROMISE 1 study to treat frequent episodic migraine. Alder expects data in 2017 from the trial, which is testing quarterly infusions of the candidate. Next half, Alder plans to start the Phase III PROMISE 2 trial in chronic migraine. ...