Encysive and Gtc Spark Biotech Excitement
Encysive Pharmaceuticals Inc. (nasdaq:ENCY) and Gtc Biotherapeutics Inc. (nasdaq:GTCB) both posted large gains for the day. Encysive received news that it’s drug Thelin will be approved by the European Agency for the Evaluation of Medicinal Products, or EMEA. Thelin has big potential because of its ability to successfully treat pulmonary arterial hypertension, by helpoing maintain proper vascular contraction. Shares of Encysive increased 37% to $5.89 in trading in response to the news.
GTC’s stock price increased an astounding 77% to $1.74 upon recieving similar news. GTC’s drug, ATryn(R) also recieved a positive opinion from EMEA. ATryn(R) will be the first antithrombin (anticoagulant and anti-inflammatory) in use across the European Union.