Portola jumps on FDA approval of Andexxa

Portola Pharmaceuticals Inc. (NASDAQ:PTLA) gained $8.66 (26%) to $42.44 on Friday after FDA granted accelerated approval to a resubmitted BLA for its Andexxa andexanet alfa. Portola announced the approval after market close on Thursday.

The agency approved Andexxa to reverse the anticoagulant activity of Factor Xa inhibitors Xarelto rivaroxaban and Eliquis apixaban in patients with life-threatening or uncontrolled bleeding. Andexxa's label includes a boxed warning for thromboembolic risks, ischemic risks, cardiac arrest and sudden death...