Progenics, Salix gain on constipation data
Shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) and Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) gained on Tuesday after the partners said once-daily 300 and 450 mg oral methylnaltrexone met the primary endpoint in a Phase III trial to treat opioid-induced constipation. Both doses of the peripheral mu opioid receptor (MOR) antagonist significantly improved the proportion of patients with a rescue-free bowel movement within four hours of treatment each day over 28 days vs. placebo. The trial enrolled 804 patients with chronic, non-cancer pain. Salix plans to submit an NDA to FDA for oral methylnaltrexone to treat OIC in patients with chronic, non-cancer pain in mid-2012. Salix gained $3.71 to $46.94 on Tuesday. Progenics jumped $2.01 (31%) to $8.49. ...