Akari Therapeutics Stock Rises 10% On Positive Mid-stage Trial Results

Akari Therapeutics PLC shares surged as much as 9.7% in premarket trade Monday after the company said its drug for a rare blood disease had positive results in a mid-stage clinical trial. The drug, Coversin, is intended to treat paroxysmal nocturnal hemoglobinuria, a dangerous blood disease that typically affects younger adults. Five patients were enrolled in the phase 2 trial, which lasted 90 days and tested the drug's safety and efficacy. Four of those patients remain on the drug, symptom-free and without any serious adverse events, Akari Therapeutics said. The company plans to begin a phase 3 clinical trial in the fourth quarter of this year, with initial data from that emerging in the first quarter of 2019. Akari Therapeutics shares were valued at $20.50 as of Friday's close. Shares have surged 201.5% over the last three months, compared with a 3.0% rise in the S&P 500 .