Axovant reports first clinical gene therapy data

After rebooting to focus exclusively on gene therapies, Axovant gained $0.21 (14%) to $1.69 on Monday after reporting its first data from its retooled pipeline. The lowest dose of its Parkinson's disease therapy, AXO-Lenti-PD, was safe and improved "off" symptom scores in the first two treated patients.

Axovant Sciences Ltd. (NASDAQ:AXGT) restructured last year to focus on gene therapies after a series of clinical failures with its Alzheimer's disease and dementia compound erased most of its value. Its June 2018 deal with Oxford BioMedica plc (LSE:OXB) for exclusive, worldwide rights to AXO-Lenti-PD marked the first step in the process (see "Axovant Reboots with Gene Therapy Deal")...