Receptos Inc (RCPT)

[MiamiGent]

Receptos Stock Up Sharply on Favorable Data From Multiple Sclerosis Trial
BY Dow Jones & Company, Inc. — 5:58 PM ET 06/09/2014

http://stockcharts.com/h-sc/ui?s=RCPT

Receptos Inc. (RCPT) shares surged in late trading after the company reported favorable clinical-trial results for its lead product candidate in a study of patients with relapsing multiple sclerosis.

The stock rose 39% in after-hours trading, to $40.55, after rising 12% in the regular session.

Receptos (RCPT) said its RPC1063 drug met the primary endpoint in the Phase 2 portion of the Radiance trial: a reduction in brain lesions, determined by MRI. The company said the safety profile was consistent with earlier results.

The Phase 3 portion of the Radiance trial began in December.

RPC1063 is also a potential treatment for inflammatory bowel disease.

For the first quarter of 2014, Receptos (RCPT) posted a loss of $21.5 million, or $1.01 a share, compared with a loss of $7.6 million, or $5.46 a share, a year earlier.

Revenue fell to $1.4 million from $1.5 million. Revenue for both periods consisted mainly of amortization of upfront fees and milestone payments, and research and development funding received from collaborative arrangements.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires
06-09-14 1758ET