BioMarin jumps on GALNS data

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) jumped $11.66 (31%) to $49.07 on Monday after reporting that once-weekly 2 mg/kg IV GALNS met the primary endpoint in the Phase III MOR-004 trial to treat mucopolysaccharidosis IVA (MPS-IVA, Morquio's syndrome). BioMarin plans to submit regulatory applications for GALNS starting next quarter. The stock move translates to a $1.4 billion increase in the biotech's market cap, which is now $6.1 billion. ...