Hemagen Soars After FDA Approves Tests for Blood Clot Disease
Waltham, Massachusetts, Sept. 3 (Bloomberg) -- Hemagen Diagnostic Inc. shares more than doubled after the company announced that the U.S. Food and Drug Administration approved three of its kits designed to diagnose a rare autoimmune disease.
Shares in the company rose 1 1/32 to 2 1/32 in midday trading, earlier rising as high as 2 7/8. The stock had the second-largest percentage gain on U.S. markets on trading of 3.6 million shares, more than 150 times the three-month daily average.
The three immunoassay kits are designed to help doctors spot a problem called antiphospholipid syndrome, characterized by the formation of blood clots. The disease strikes women disproportionately and can results in the loss of the fetus in pregnant women.
Hemagen, based in Waltham, Massachusetts, has more than 15 product on the market to diagnose autoimmune diseases ranging from lupus to rheumatoid arthritis.
Sep/03/1999 11:59
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