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COLUMBIA, Md. - Biotechnology drug developer Osiris Therapeutics Inc. said Tuesday the Food and Drug Administration cleared the company to launch a midstage trial of Prochymal after a study showed the experimental drug improved heart function.
| OSIR | 15.53 |  -0.03 |
Shares of Osiris rose 44 cents, or 3.7 percent, to $12.25 in afternoon trading.
Interim results from an early-stage trial evaluating Prochymal for the treatment of heart attacks showed it was safe and "significantly" improved heart function after one year.
Prochymal, a patented formulation of adult stem cells, is currently in Phase III clinical trials for the treatment of Graft vs. Host Disease a side effect of a bone marrow transplant and Crohn's Disease an inflammatory condition of the digestive tract and is in a Phase II trial for type 1 diabetes.
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