Longboard Pharmaceuticals Inc shares surged 181% to $16.96 in late morning trading on Tuesday after the clinical-stage biopharmaceutical company revealed positive topline data from its PACIFIC Study evaluating bexicaserin, which reduced seizures by 53.3% across a population of patients with developmental and epileptic encephalopathies (DEE).
A phase 1b/2a study included 52 patients ages 12 to 65 years old with different seizure disorders, including Lennox-Gastaut syndrome and Dravet syndrome.
Bexicaserin led to a 72.1% mean reduction in Dravet-related seizures, 48.1% in Lennox-Gastaut and 61.2% in DEE other, according to the company.
"We are continuing our Phase 3 preparations as we evaluate the broader dataset," Longboard Pharmaceuticals CEO Kevin Lind said in a statement.
The company added that bexicaserin exhibited favorable safety and tolerability results.