Ardea Biosciences rises on positive drug trial news
Shares of Ardea Biosciences, Inc. (Nasdaq:RDEA) are rising on news after the close on Monday that a Phase II trial of a drug to inhibit the spread of HIV reported positive results.
“These preliminary data indicate that RDEA806 is a highly potent antiretroviral that warrants further study for both treatment-naive and treatment-experienced HIV patients,” said Graeme Moyle, Director of HIV Research at Chelsea and Westminster Hospital, in a statement.
At 1:00 p.m. ET, the stock had advanced $1.46, or 11%, to $14.45. For detailed price information and recent news stories about Ardea Biosciences, click RDEA.
