Stock Alert: Kiniksa Shares Up 31% In Premarket On Positive Data From Phase 3 Trial Of Rilonacept

Shares of Kiniksa Pharmaceuticals Ltd. (KNSA) are soaring over 31% in pre-market today, after the company reported positive data from RHAPSODY, a pivotal Phase 3 trial of rilonacept, a weekly, subcutaneously-injected, recombinant fusion protein that blocks interleukin-1 alpha and interleukin-1 beta signaling, in recurrent pericarditis.

The company noted that RHAPSODY met its prespecified primary and all major secondary efficacy endpoints, showing that rilonacept improved clinically meaningful outcomes associated with the unmet medical need in recurrent pericarditis, a painful and debilitating autoinflammatory disease.

The U.S. FDA granted Breakthrough Therapy designation to rilonacept for the treatment of recurrent pericarditis in 2019, and Kiniksa expects to submit a Supplemental Biologics License Application or sBLA later this year.

The stock has been trading in the range of $5.01 – $25.61 for the past one year, and closed Friday’s trade at $23.03, down $2.16 or 8.57%. KNSA is currently trading at $30.30, up $7.27 or 31.57% in the pre-market session.

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