Xoma Corp (NASDAQ:XOMA) shares surged over 18% to $7.68 as it posted positive data from pre-clinical studies on an antibody.
The antibody PTH1R is a potential first-in-class therapeutic agent for the treatment of hyperparathyroidism (HPT) and humoral hypercalcemia of malignancy (HHM).
"Consistent with our new strategy, we are seeking partners with a deep commitment to and an expertise in drug development who are interested in licensing this first-in-class antibody and taking it through the clinical development process,” said chief executive of Xoma Jim Neal.
"While hyperparathyroidism is a classic endocrine disorder, HHM spans both endocrine and oncology specialties," added Professor John Wysolmerski, of the Yale School of Medicine.
"HHM is a life-threatening complication of many advanced cancers and is caused by tumor secretion of the PTH1R ligand, PTH-related peptide, which causes high calcium.
"Since current treatments often fall short of correcting hypercalcemia and many cancer patients die from such high calcium and associated metabolic complications, PTH1R antibodies could prove beneficial for the treatment of this devastating condition