Ardea Biosciences, Inc. (RDEA)

[surf1944]

UPDATE 1-Ardea says gout drug meets mid-stage study goal
Wed Mar 31, 2010 5:14pm EDTStocks
* RDEA594 meets primary study goal

* Says the drug was well tolerated

* Shares up 10 pct after-market

March 31 (Reuters) - Ardea Biosciences Inc (RDEA.O) said its experimental drug for the treatment of hyperuricemia, or excessive uric acid in the blood, in patients with gout met a study goal, sending its shares up 10 percent. In a mid-stage trial, the drug, RDEA594, met the primary endpoint of showing a significant increase in the proportion of patients with reduced serum urate levels after four weeks of treatment, compared to the dummy pill, the company said in a statement.

In the study, 123 gout patients with hyperuricemia received the drug in three dosages -- 200 mg, 400 mg, and 600 mg or the matching dummy pill.

Reductions in serum urate and response rates increased in a dose-related manner and were highly clinically and statistically significant at both the 400 mg and 600 mg dose levels.

In the study, the drug was well tolerated and there were no serious adverse events, the company said.

Shares of the company rose 10 percent to $20.00 in after market trade. They closed at $18.26 Wednesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Saumyadeb Chakrabarty)