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Myokardia soars after heart drug trial success

Last updated: 15:03 07 Aug 2017 EDT, First published: 04:03 07 Aug 2017 EDT

trader celebrating
Myokardia shares rose US$6.38 or 37% to US$23.50 ahead of open

Myokardia Inc (NASDAQ:MYOK) shares soared almost 40% in Monday’s premarket dealing thanks to positive results for a potential heart disease drug.

Specifically, the company released details from its first patient cohort of its Phase 2 PIONEER-HCM study of the drug mavacamten in symptomatic, obstructive hypertrophic cardiomyopathy (oHCM) patients, with the group reaching the primary endpoint.

The endpoint was marked as a change in post-exercise peak left ventricular outflow tract (LVOT) gradient. Key secondary endpoints were also met, including peak oxygen consumption (peak VO2).

Myokardia told investors it would now advance efforts towards its next pivotal study, which is expected to start before the end of the year.

“We are very encouraged by the observed physiological effects of mavacamten in this study,” said Stephen Heitner, lead investigator in the study.

“These results continue to build the body of evidence linking the mechanistic hypothesis of mavacamten to potential clinical benefit in symptomatic, obstructive HCM patients.”

In New York, Myokardia shares rose US$6.38 or 37% to be priced at US$23.50 ahead of the open.

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