Pharmacopeia shares rise on blood pressure study

PS433540 is being developed as a potential treatment for both hypertension and diabetic kidney disease. Shares of the smallcap biopharmaceutical company surged $1.32, or 42 percent, to $4.50 in premarket electronic trading, having closed Thursday at $3.18.

The company is presenting the Phase IIa data at the American Society of Hypertension (ASH) 23rd Annual Scientific Meeting and Exposition in New Orleans.

Pharmacopeia said the drug met its primary study goal of reducing 24-hour systolic ambulatory blood pressure compared with a placebo. Once-daily treatment with 200 milligrams or 500 mg of PS433540 was well tolerated. Three patients discontinued therapy for adverse events, but all were in the placebo group.

An estimated 73 million Americans suffer from high blood pressure.

The company said PS433540 is the first compound specifically designed to incorporate both endothelin (ETA) and angiotensin (AT1) receptor blockers in one molecule to treat high blood pressure by preventing the blood pressure-raising actions of angiotensin and endothelin when they bind to these receptors.