Stock Alert: MyoKardia Shares Surge 80% On Phase 3 EXPLORER-HCM Trial Data

(RTTNews) - Shares of MyoKardia Inc. (MYOK) are soaring over 80% in pre-market today, after the company announced positive topline data from its Phase 3 pivotal EXPLORER-HCM clinical trial of mavacamten for the treatment of patients with symptomatic, obstructive hypertrophic cardiomyopathy (HCM).

Mavacamten demonstrated a robust treatment effect: the primary and all secondary endpoints of the EXPLORER trial were met with statistical significance.

Mavacamten was well tolerated, and meaningful improvements in symptoms, functional status and quality of life, as well as reduction or elimination in obstruction of the left ventricle, were observed among patients on treatment versus placebo, the company said.

Further, the company noted that results from the Phase 3 EXPLORER-HCM clinical trial would be submitted to a future professional meeting in 2020.

The stock has been trading in the range of $42.65 - $78.28 for the past one year, and closed Friday's trade at $61.09, down $1.24 or 1.99%. MYOK is currently trading at $112.50, up $51.41 or 84.15% in the pre-market session.