Pro­to­cols: Retrophin shares soar on promis­ing Phase II da­ta; FDA read­ies Keytru­da re­view for lung can­cer

Shares of San Diego-based Retrophin $RTRX shot up 26% Wednes­day morn­ing af­ter the com­pa­ny un­veiled promis­ing Phase II da­ta for their lead drug. In­ves­ti­ga­tors say they tracked a mean re­duc­tion of 44.8% in pro­tein­uria among pa­tients tak­ing sparsen­tan, well over twice the rate of re­duc­tion tracked in the irbe­sar­tan group. CEO Stephen Ase­lage says the com­pa­ny will now meet with the FDA to map out the short­est pos­si­ble route to the mar­ket. Retrophin is best known for its for­mer CEO, the no­to­ri­ous Mar­tin Shkre­li, who was kicked out of the com­pa­ny amid fraud al­le­ga­tions and now faces fed­er­al charges re­lat­ed to his han­dling of the biotech’s fi­nances and a now de­funct hedge fund.

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