Nicox (Paris: FR0000074130 - news) shares jump over 11 percent after the French biotech unveils encouraging early-stage data for experimental anti-inflammatory naproxcinod which suggest the drug could be revived as a treatment for muscular dystrophy.
In 2011, the U.S. Food and Drug Administration rejected naproxcinod as an anti-inflammatory painkiller and requested new clinical studies to prove its safety.
At 0754 GMT, Nicox shares are the best performers on the SBF120 index up 11.5 percent at 2.65 euros.
"This opens a door, but Nicox won't be able to develop alone, it will have to resort to partners," says a Paris-based analyst. "Then, there is a question mark over the patent life of naproxcinod, which wouldn't reach the market before ten years."
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